Townsquare Media, Inc. (NYSE:TSQ) Plans $0.20 Quarterly Dividend

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.198 per share on Thursday, August 1st. This represents a $0.79 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend is Monday, July 15th.

Townsquare Media has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Townsquare Media to earn $1.33 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 59.4%.

Townsquare Media Stock Up 0.9 %

Shares of TSQ traded up $0.11 during mid-day trading on Friday, hitting $12.31. 840 shares of the company traded hands, compared to its average volume of 53,891. Townsquare Media has a 1-year low of $8.00 and a 1-year high of $13.57. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 50.41. The company has a market capitalization of $204.75 million, a PE ratio of -4.45, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33. The business has a 50 day moving average of $11.66 and a 200 day moving average of $10.68.

Townsquare Media (NYSE:TSQ) last issued its quarterly earnings results on Friday, March 15th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.08. Townsquare Media had a negative net margin of 9.90% and a positive return on equity of 55.40%. The company had revenue of $114.79 million for the quarter, compared to the consensus estimate of $111.78 million. Equities research analysts anticipate that Townsquare Media will post 1.54 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Chairman Steven Price sold 1,565,681 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $12.36, for a total value of $19,351,817.16. Following the transaction, the chairman now owns 897,115 shares of the company’s stock, valued at $11,088,341.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Bill Wilson sold 391,420 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $12.36, for a total value of $4,837,951.20. Following the transaction, the chief executive officer now directly owns 2,139,135 shares in the company, valued at approximately $26,439,708.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Steven Price sold 1,565,681 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 $19,351,817.16. Following the sale, the chairman now owns 897,115 shares in the company, valued at $11,088,341.40. The disclosure for this sale can be found here. Insiders sold a total of 2,886,934 shares of company stock worth $35,653,276 over the last 90 days. 34.90% of the stock is owned by insiders.

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.