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

Townsquare Media, Inc. (NYSE:TSQ) announced a quarterly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders 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 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 payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Equities 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

NYSE TSQ traded down $0.12 on Tuesday, reaching $8.03. 52,414 shares of the stock traded hands, compared to its average volume of 58,830. The company has a fifty day moving average price of $8.77 and a 200-day moving average price of $9.57. 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. Townsquare Media has a 12 month low of $7.56 and a 12 month high of $13.57.

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

Analyst Upgrades and Downgrades

TSQ has been the subject of several recent research reports. Noble Financial reissued an “outperform” rating and issued a $21.00 price target on shares of Townsquare Media in a research report on Friday, January 24th. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of Townsquare Media in a research report on Tuesday.

Insider Transactions at Townsquare Media

In related news, EVP Scott Schatz sold 4,594 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $9.65, for a total transaction of $44,332.10. Following the transaction, the executive vice president now directly owns 31,366 shares in the company, valued at $302,681.90. The trade was a 12.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Claire Marie Yenicay sold 5,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 214,953 shares in the company, valued at approximately $1,981,866.66. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,094 shares of company stock valued at $191,807. Corporate insiders own 30.50% of the company’s stock.

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.