Barrington Research Comments on Townsquare Media, Inc.’s Q2 2023 Earnings (NYSE:TSQ)

Posted by Defense World Staff on Jul 21st, 2023

Townsquare Media, Inc. (NYSE:TSQ – Free Report) – Stock analysts at Barrington Research boosted their Q2 2023 earnings per share (EPS) estimates for shares of Townsquare Media in a note issued to investors on Monday, July 17th. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.49. The consensus estimate for Townsquare Media’s current full-year earnings is $1.32 per share. Barrington Research also issued estimates for Townsquare Media’s Q2 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $1.96 EPS and FY2025 earnings at $1.77 EPS.

Townsquare Media (NYSE:TSQ – Get Free Report) last announced its earnings results on Wednesday, May 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $103.11 million for the quarter, compared to analyst estimates of $100.63 million. Townsquare Media had a return on equity of 53.66% and a net margin of 1.65%.

Separately, StockNews.com started coverage on Townsquare Media in a report on Thursday, May 18th. They issued a “hold” rating on the stock.

Townsquare Media Price Performance

Townsquare Media stock opened at $12.14 on Thursday. The stock has a market capitalization of $212.45 million, a price-to-earnings ratio of 28.23, a PEG ratio of 0.74 and a beta of 1.66. Townsquare Media has a 52-week low of $7.05 and a 52-week high of $12.65. The company has a debt-to-equity ratio of 7.77, a quick ratio of 1.72 and a current ratio of 1.72. The stock’s 50 day moving average price is $10.71 and its two-hundred day moving average price is $8.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new stake in Townsquare Media in the 2nd quarter valued at about $40,000. Jane Street Group LLC purchased a new stake in shares of Townsquare Media during the first quarter valued at approximately $139,000. Geode Capital Management LLC lifted its holdings in Townsquare Media by 36.3% during the first quarter. Geode Capital Management LLC now owns 119,065 shares of the company’s stock worth $953,000 after acquiring an additional 31,703 shares during the period. Beck Mack & Oliver LLC boosted its position in Townsquare Media by 3.5% in the first quarter. Beck Mack & Oliver LLC now owns 684,961 shares of the company’s stock worth $5,480,000 after purchasing an additional 23,249 shares during the last quarter. Finally, Corton Capital Inc. bought a new position in Townsquare Media in the 1st quarter valued at $87,000. 67.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Townsquare Media

In other news, EVP Scott Schatz sold 5,337 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $12.11, for a total transaction of $64,631.07. Following the completion of the sale, the executive vice president now directly owns 5,646 shares of the company’s stock, valued at $68,373.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Townsquare Media news, COO Erik Hellum sold 15,000 shares of Townsquare Media stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $11.60, for a total transaction of $174,000.00. Following the transaction, the chief operating officer now directly owns 598,961 shares of the company’s stock, valued at approximately $6,947,947.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Schatz sold 5,337 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $12.11, for a total transaction of $64,631.07. Following the completion of the sale, the executive vice president now owns 5,646 shares of the company’s stock, valued at approximately $68,373.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,699 shares of company stock valued at $569,557. Corporate insiders own 29.10% of the company’s stock.

Townsquare Media Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, June 30th will be paid a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 6.19%. This is a positive change from Townsquare Media’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 29th. Townsquare Media’s dividend payout ratio (DPR) is 174.42%.

Townsquare Media Company Profile

(Get Free Report)

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 various digital marketing solutions, including hosting, search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, email marketing, and website retargeting services, as well as traditional and mobile-enabled website design, creation, and development services.