Barrington Research Analysts Lower Earnings Estimates for Townsquare Media, Inc. (NYSE:TSQ)

Posted by Defense World Staff on Oct 26th, 2023

Townsquare Media, Inc. (NYSE:TSQ – Free Report) – Analysts at Barrington Research reduced their FY2023 EPS estimates for shares of Townsquare Media in a research note issued to investors on Monday, October 23rd. Barrington Research analyst J. Goss now expects that the company will earn $0.85 per share for the year, down from their previous forecast of $0.89. Barrington Research has a “Outperform” rating and a $17.00 price target on the stock. The consensus estimate for Townsquare Media’s current full-year earnings is $0.89 per share. Barrington Research also issued estimates for Townsquare Media’s Q4 2023 earnings at $0.26 EPS, Q4 2024 earnings at $0.40 EPS, FY2024 earnings at $1.69 EPS and FY2025 earnings at $1.56 EPS.

Townsquare Media (NYSE:TSQ – Get Free Report) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.30). The company had revenue of $121.23 million during the quarter, compared to the consensus estimate of $121.08 million. Townsquare Media had a net margin of 0.02% and a return on equity of 39.79%.

Separately, StockNews.com began coverage on shares of Townsquare Media in a research note on Thursday, October 5th. They set a “hold” rating for the company.

Check Out Our Latest Stock Analysis on Townsquare Media

Townsquare Media Price Performance

TSQ stock opened at $8.32 on Wednesday. The company has a fifty day moving average price of $9.14 and a 200-day moving average price of $9.95. The company has a market capitalization of $137.86 million, a P/E ratio of 6.20, a PEG ratio of 0.81 and a beta of 1.64. 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 10.38, a quick ratio of 1.67 and a current ratio of 1.67.

Townsquare Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date of this dividend is Friday, September 29th.

Insider Buying and Selling at Townsquare Media

In other Townsquare Media news, Director David Lebow sold 5,374 shares of Townsquare Media stock in a transaction on Monday, August 28th. The shares were sold at an average price of $9.72, for a total value of $52,235.28. Following the completion of the sale, the director now directly owns 85,194 shares of the company’s stock, valued at $828,085.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 14,855 shares of company stock valued at $142,673. Corporate insiders own 29.10% of the company’s stock.

Institutional Investors Weigh In On Townsquare Media

Several hedge funds and other institutional investors have recently bought and sold shares of TSQ. Bank of New York Mellon Corp increased its position in shares of Townsquare Media by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 64,071 shares of the company’s stock worth $820,000 after acquiring an additional 2,224 shares in the last quarter. Group One Trading L.P. bought a new stake in shares of Townsquare Media during the first quarter worth about $40,000. BlackRock Inc. increased its position in shares of Townsquare Media by 14.6% during the first quarter. BlackRock Inc. now owns 221,426 shares of the company’s stock worth $2,832,000 after acquiring an additional 28,217 shares in the last quarter. Sei Investments Co. increased its position in shares of Townsquare Media by 29.5% during the first quarter. Sei Investments Co. now owns 108,545 shares of the company’s stock worth $1,388,000 after acquiring an additional 24,744 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Townsquare Media by 4.0% during the first quarter. Gamco Investors INC. ET AL now owns 294,200 shares of the company’s stock worth $3,763,000 after acquiring an additional 11,400 shares in the last quarter. 67.99% of the stock is owned by institutional investors.

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.