Townsquare Media, Inc. (NYSE:TSQ) Declares $0.20 Quarterly Dividend

Townsquare Media, Inc. (NYSE:TSQ) announced a quarterly dividend on Monday, May 11th. Stockholders of record on Monday, July 27th will be given a dividend of 0.20 per share on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Monday, July 27th.

Townsquare Media has increased its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Townsquare Media has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Townsquare Media to earn $0.41 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 195.1%.

Townsquare Media Trading Up 11.5%

TSQ stock opened at $7.30 on Tuesday. The company has a market capitalization of $124.83 million, a P/E ratio of -10.28, a PEG ratio of 1.42 and a beta of 1.18. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $9.31. The business has a 50 day simple moving average of $6.36 and a 200-day simple moving average of $5.98.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The firm had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.46 million. Townsquare Media had a negative net margin of 2.58% and a negative return on equity of 13.74%. Research analysts predict that Townsquare Media will post 0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Townsquare Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, April 29th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price target on shares of Townsquare Media in a report on Monday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $10.00.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.