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

Key Points

• Townsquare Media declared a quarterly dividend of $0.20 per share, payable November 2 to shareholders of record on October 26. The dividend implies an annualized payout of $0.80 and a 20.9% yield.
• The dividend is currently covered by earnings with a 71.4% payout ratio, but analysts expect next year’s earnings to cover only about half the annual dividend, implying a projected payout ratio of 195.1%.
• TSQ shares recently traded at $3.83, near their 52-week low of $3.61. Analysts’ consensus rating is Hold, with a target price of $10.00, while the company reported quarterly EPS of $0.21 versus a $0.19 estimate.

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) announced a quarterly dividend on Tuesday, August 4th. Shareholders of record on Monday, October 26th will be given a dividend of $0.20 per share on Monday, November 2nd. This represents a $0.80 annualized dividend and a yield of 20.9%. The ex-dividend date of this dividend is Monday, October 26th.

Townsquare Media has increased its dividend payment by an average of 0.6% annually over the last three years and has increased its dividend every year for the last 3 years. Townsquare Media has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Townsquare Media to earn $0.41 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 195.1%.

Townsquare Media Price Performance

Shares of TSQ stock traded up $0.01 during trading hours on Friday, reaching $3.83. 267,504 shares of the company were exchanged, compared to its average volume of 107,972. Townsquare Media has a fifty-two week low of $3.61 and a fifty-two week high of $7.97. The stock's fifty day moving average is $4.97 and its two-hundred day moving average is $5.95. The company has a market cap of $69.85 million, a price-to-earnings ratio of -1.33 and a beta of 1.27.

Townsquare Media (NYSE:TSQ - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Townsquare Media had a negative net margin of 11.82% and a negative return on equity of 5.59%. The business had revenue of $114.00 million for the quarter, compared to analysts' expectations of $114.74 million. On average, research analysts anticipate that Townsquare Media will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TSQ shares. Zacks Research upgraded shares of Townsquare Media from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 20th. Weiss Ratings cut shares of Townsquare Media from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Townsquare Media from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $10.00.

Townsquare Media Company Profile

Townsquare Media, Inc NYSE: TSQ is a local media and digital marketing company serving small and mid-sized communities across the United States. The company operates local radio stations and produces community-focused content through websites, mobile applications, email newsletters, podcasts and other digital channels.

Townsquare generates advertising and subscription-related revenue by offering businesses access to local audiences across broadcast, online and mobile platforms. Its services include on-air advertising, digital display and video advertising, search engine marketing, social media marketing, website development and other digital marketing solutions.

The company also develops and promotes local events and provides additional marketing services through its Townsquare Interactive business.

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