FY2024 EPS Estimates for Townsquare Media, Inc. (NYSE:TSQ) Boosted by Noble Financial

Townsquare Media, Inc. (NYSE:TSQ - Free Report) - Equities researchers at Noble Financial lifted their FY2024 earnings per share estimates for shares of Townsquare Media in a note issued to investors on Monday, April 1st. Noble Financial analyst M. Kupinski now expects that the company will post earnings per share of $1.44 for the year, up from their previous forecast of $1.29. Noble Financial has a "Outperform" rating and a $21.00 price target on the stock. The consensus estimate for Townsquare Media's current full-year earnings is $1.40 per share.

Several other equities analysts have also issued reports on TSQ. StockNews.com upgraded Townsquare Media from a "hold" rating to a "buy" rating in a research report on Friday, March 29th. Guggenheim raised their price target 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 restated an "outperform" rating and set a $17.00 price target on shares of Townsquare Media in a research report on Tuesday.

Townsquare Media Trading Up 2.7 %

TSQ traded up $0.32 on Wednesday, hitting $12.35. 115,127 shares of the company were exchanged, compared to its average volume of 50,954. The firm has a fifty day simple moving average of $10.86 and a two-hundred day simple moving average of $10.05. The company has a debt-to-equity ratio of 50.41, a quick ratio of 1.74 and a current ratio of 1.74. Townsquare Media has a 12 month low of $8.00 and a 12 month high of $12.65. The stock has a market capitalization of $205.38 million, a PE ratio of -4.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Townsquare Media by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 591,495 shares of the company's stock valued at $6,246,000 after purchasing an additional 7,252 shares during the period. Barclays PLC raised its stake in Townsquare Media by 109.5% during the fourth quarter. Barclays PLC now owns 26,676 shares of the company's stock valued at $282,000 after buying an additional 13,944 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Townsquare Media by 12.3% during the fourth quarter. Nuveen Asset Management LLC now owns 16,995 shares of the company's stock valued at $180,000 after buying an additional 1,863 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Townsquare Media by 0.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 362,847 shares of the company's stock valued at $3,832,000 after buying an additional 3,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Townsquare Media by 2.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 243,700 shares of the company's stock valued at $2,573,000 after buying an additional 5,288 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company's stock.

Insiders Place Their Bets

In other Townsquare Media news, Director Gary L. Ginsberg sold 15,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $11.68, for a total value of $175,200.00. Following the completion of the sale, the director now owns 100,164 shares in the company, valued at approximately $1,169,915.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Erik Hellum sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $10.95, for a total value of $54,750.00. Following the completion of the transaction, the chief operating officer now owns 718,222 shares in the company, valued at approximately $7,864,530.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary L. Ginsberg sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $11.68, for a total value of $175,200.00. Following the completion of the transaction, the director now owns 100,164 shares of the company's stock, valued at approximately $1,169,915.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,832 shares of company stock worth $327,135. 29.10% of the stock is currently owned by company insiders.

Townsquare Media Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Friday, April 5th will be issued a $0.198 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.79 annualized dividend and a yield of 6.41%. This is a boost from Townsquare Media's previous quarterly dividend of $0.19. Townsquare Media's dividend payout ratio (DPR) is -27.37%.

About Townsquare Media

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.