FY2024 EPS Forecast for Townsquare Media Lifted by Analyst

Townsquare Media, Inc. (NYSE:TSQ) – Analysts at Barrington Research raised their FY2024 earnings per share estimates for Townsquare Media in a research report issued on Monday, November 11th. Barrington Research analyst J. Goss now expects that the company will earn $1.07 per share for the year, up from their prior forecast of $0.97. Barrington Research has a “Outperform” rating and a $17.00 price objective on the stock. The consensus estimate for Townsquare Media’s current full-year earnings is $1.07 per share. Barrington Research also issued estimates for Townsquare Media’s Q4 2024 earnings at $0.58 EPS and Q4 2025 earnings at $0.20 EPS.

Separately, StockNews.com raised Townsquare Media from a “hold” rating to a “buy” rating in a research report on Monday.

Townsquare Media Price Performance

TSQ stock opened at $10.08 on Wednesday. The business’s fifty day moving average price is $10.07 and its 200 day moving average price is $10.73. Townsquare Media has a 12-month low of $9.32 and a 12-month high of $13.57. The company has a current ratio of 1.38, a quick ratio of 1.36 and a debt-to-equity ratio of 271.80. The company has a market capitalization of $155.13 million, a PE ratio of -3.72, a P/E/G ratio of 0.77 and a beta of 1.36.

Hedge Funds Weigh In On Townsquare Media

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Townsquare Media by 28.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,698 shares of the company’s stock worth $68,000 after buying an additional 1,503 shares during the last quarter. Access Investment Management LLC lifted its stake in Townsquare Media by 0.5% during the second quarter. Access Investment Management LLC now owns 396,025 shares of the company’s stock worth $4,340,000 after purchasing an additional 2,140 shares during the last quarter. Rhumbline Advisers boosted its holdings in Townsquare Media by 24.4% in the second quarter. Rhumbline Advisers now owns 12,660 shares of the company’s stock valued at $139,000 after purchasing an additional 2,481 shares in the last quarter. Boyar Asset Management Inc. increased its stake in Townsquare Media by 8.7% in the second quarter. Boyar Asset Management Inc. now owns 39,172 shares of the company’s stock valued at $429,000 after purchasing an additional 3,150 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Townsquare Media by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 42,360 shares of the company’s stock worth $465,000 after purchasing an additional 3,469 shares in the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Insider Activity

In related news, major shareholder Msd Capital L. P sold 3,311 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $10.32, for a total value of $34,169.52. Following the sale, the insider now owns 1,515,516 shares of the company’s stock, valued at $15,640,125.12. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Erik Hellum sold 9,223 shares of Townsquare Media stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $10.30, for a total transaction of $94,996.90. Following the completion of the transaction, the chief operating officer now owns 607,680 shares of the company’s stock, valued at $6,259,104. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,153 shares of company stock worth $386,614. Corporate insiders own 30.50% of the company’s stock.

Townsquare Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Tuesday, January 21st. Townsquare Media’s dividend payout ratio is currently -29.15%.

Townsquare Media Company Profile

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.