Townsquare Media, Inc. (TSQ) to Issue Quarterly Dividend of $0.20 on August 3rd

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Friday, May 1st. Stockholders of record on Monday, July 27th will be given a dividend of 0.20 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date is Monday, July 27th.

Townsquare Media has increased its dividend payment by an average of 0.6%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Townsquare Media has a dividend payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Townsquare Media to earn $0.49 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 163.3%.

Townsquare Media Stock Down 1.5%

Shares of NYSE:TSQ opened at $6.29 on Friday. The stock has a market cap of $107.63 million, a price-to-earnings ratio of -14.64, a PEG ratio of 2.54 and a beta of 1.20. Townsquare Media has a 12-month low of $4.30 and a 12-month high of $7.97. The business’s 50 day moving average is $6.61 and its 200 day moving average is $6.44.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Townsquare Media had a negative net margin of 1.59% and a negative return on equity of 7.41%. The company had revenue of $96.10 million during the quarter, compared to analysts’ expectations of $96.46 million. As a group, equities research analysts expect that Townsquare Media will post 0.21 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Townsquare Media from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research lowered shares of Townsquare Media from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Townsquare Media in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Townsquare Media currently has a consensus rating of “Reduce” and an average price target of $10.00.

Townsquare Media Company Profile

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.