Townsquare Media, Inc. (TSQ) To Go Ex-Dividend on April 17th

Townsquare Media, Inc. (NYSE:TSQ) announced a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.20 per share on Thursday, May 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.97%. The ex-dividend date is Thursday, April 17th. This is a 1.3% increase from Townsquare Media’s previous quarterly dividend of $0.20.

Townsquare Media has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 61.2%.

Townsquare Media Stock Performance

Shares of Townsquare Media stock opened at $8.03 on Wednesday. Townsquare Media has a one year low of $7.56 and a one year high of $13.57. The company has a market cap of $124.76 million, a price-to-earnings ratio of -2.96, a PEG ratio of 0.58 and a beta of 1.33. The business’s 50 day moving average price is $8.75 and its 200 day moving average price is $9.55.

Townsquare Media (NYSE:TSQ) last issued its earnings results on Monday, March 17th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60. Townsquare Media had a negative return on equity of 57.10% and a negative net margin of 8.84%. The business had revenue of $117.81 million during the quarter, compared to the consensus estimate of $116.41 million. During the same period in the prior year, the business posted $0.34 EPS. On average, analysts predict that Townsquare Media will post 1.07 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Scott Schatz sold 4,594 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $9.65, for a total value of $44,332.10. Following the sale, the executive vice president now directly owns 31,366 shares of the company’s stock, valued at approximately $302,681.90. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claire Marie Yenicay sold 5,000 shares of Townsquare Media stock in a transaction on Friday, December 20th. The shares were sold at an average price of $9.65, for a total transaction of $48,250.00. Following the completion of the sale, the executive vice president now owns 207,393 shares in the company, valued at $2,001,342.45. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,594 shares of company stock valued at $186,882 in the last quarter. Insiders own 30.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Townsquare Media in a research report on Tuesday. Noble Financial reiterated an “outperform” rating and issued a $21.00 price target on shares of Townsquare Media in a research note on Friday, January 24th.

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.