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

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Thursday, April 17th will be given 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 of this dividend 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 Price Performance

Shares of Townsquare Media stock opened at $8.03 on Wednesday. The firm has a market cap of $124.76 million, a PE ratio of -2.96, a PEG ratio of 0.58 and a beta of 1.33. Townsquare Media has a 1 year low of $7.56 and a 1 year high of $13.57. The company has a 50 day simple moving average of $8.75 and a two-hundred day simple moving average of $9.55.

Townsquare Media (NYSE:TSQ) last announced its quarterly 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. The company had revenue of $117.81 million for the quarter, compared to analysts’ expectations of $116.41 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, research analysts anticipate that Townsquare Media will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Scott Schatz sold 4,594 shares of Townsquare Media stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $9.65, for a total transaction of $44,332.10. Following the completion of the sale, the executive vice president now owns 31,366 shares of the company’s stock, valued at $302,681.90. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Claire Marie Yenicay sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $9.22, for a total value of $46,100.00. Following the completion of the sale, the executive vice president now owns 214,953 shares in the company, valued at approximately $1,981,866.66. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,594 shares of company stock worth $186,882 over the last quarter. Company insiders own 30.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TSQ. Barrington Research reissued an “outperform” rating and issued a $15.00 target price on shares of Townsquare Media in a report on Tuesday. Noble Financial reiterated an “outperform” rating and set a $21.00 target price on shares of Townsquare Media in a research report on Friday, January 24th.

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.