Townsquare Media (NYSE:TSQ) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Townsquare Media (NYSE:TSQ) posted its quarterly earnings data on Thursday. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02), Zacks reports. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. The company had revenue of $99.63 million for the quarter, compared to the consensus estimate of $98.46 million. During the same period last year, the business earned $0.08 EPS. Townsquare Media updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Townsquare Media Stock Performance

Shares of TSQ stock traded down $0.03 on Friday, reaching $12.17. The stock had a trading volume of 82,855 shares, compared to its average volume of 54,755. The company has a debt-to-equity ratio of 50.41, a quick ratio of 1.74 and a current ratio of 1.74. Townsquare Media has a 1 year low of $8.00 and a 1 year high of $13.57. The stock has a market cap of $202.42 million, a P/E ratio of -4.45, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33. The company has a 50 day simple moving average of $11.66 and a 200 day simple moving average of $10.68.

Townsquare Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.198 per share. The ex-dividend date is Monday, July 15th. This represents a $0.79 annualized dividend and a dividend yield of 6.51%. Townsquare Media’s payout ratio is -28.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Noble Financial lifted their price target on Townsquare Media from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Barrington Research reiterated an “outperform” rating and set a $17.00 price target on shares of Townsquare Media in a report on Thursday. Guggenheim boosted their price objective on shares of Townsquare Media from $12.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, StockNews.com raised Townsquare Media from a “hold” rating to a “buy” rating in a report on Friday, April 19th.

Insider Buying and Selling at Townsquare Media

In related news, EVP Claire Marie Yenicay sold 31,048 shares of Townsquare Media stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total transaction of $383,753.28. Following the transaction, the executive vice president now directly owns 190,191 shares in the company, valued at $2,350,760.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Townsquare Media news, Director Gary L. Ginsberg sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $11.68, for a total value of $175,200.00. Following the completion of the transaction, the director now directly owns 100,164 shares in the company, valued at approximately $1,169,915.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claire Marie Yenicay sold 31,048 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $12.36, for a total value of $383,753.28. Following the transaction, the executive vice president now owns 190,191 shares of the company’s stock, valued at approximately $2,350,760.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,886,934 shares of company stock valued at $35,653,276. 34.90% of the stock is owned by company insiders.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.