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

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.198 per share on Thursday, August 1st. This represents a $0.79 annualized dividend and a yield of 6.50%. The ex-dividend date is Monday, July 15th.

Townsquare Media has a dividend payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Townsquare Media to earn $1.33 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 59.4%.

Townsquare Media Price Performance

Shares of NYSE:TSQ traded down $0.02 during trading hours on Friday, hitting $12.18. The stock had a trading volume of 94,412 shares, compared to its average volume of 57,304. The stock's fifty day simple moving average is $11.66 and its 200 day simple moving average is $10.68. The company has a debt-to-equity ratio of 50.41, a current ratio of 1.74 and a quick ratio of 1.74. Townsquare Media has a 1-year low of $8.00 and a 1-year high of $13.57.

Townsquare Media (NYSE:TSQ - Get Free Report) last announced its earnings results on Friday, March 15th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $114.79 million for the quarter, compared to the consensus estimate of $111.78 million. Townsquare Media had a positive return on equity of 55.40% and a negative net margin of 9.90%. As a group, analysts forecast that Townsquare Media will post 1.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Townsquare Media

In related news, COO Erik Hellum sold 5,000 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $10.95, for a total value of $54,750.00. Following the completion of the sale, the chief operating officer now directly owns 718,222 shares in the company, valued at $7,864,530.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Townsquare Media news, EVP Claire Marie Yenicay sold 31,048 shares of the company's stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $12.36, for a total transaction of $383,753.28. Following the completion of the sale, the executive vice president now directly owns 190,191 shares in the company, valued at $2,350,760.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Erik Hellum sold 5,000 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $10.95, for a total value of $54,750.00. Following the completion of the sale, the chief operating officer now directly owns 718,222 shares in the company, valued at $7,864,530.90. The disclosure for this sale can be found here. Insiders have sold 2,886,934 shares of company stock worth $35,653,276 over the last 90 days. 34.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on TSQ shares. StockNews.com upgraded Townsquare Media from a "hold" rating to a "buy" rating in a report on Friday, April 19th. Noble Financial boosted their target price on shares of Townsquare Media from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, April 1st. Barrington Research restated an "outperform" rating and set a $17.00 target price on shares of Townsquare Media in a report on Thursday. Finally, Guggenheim lifted their price target on shares of Townsquare Media from $12.00 to $12.50 and gave the stock a "buy" rating in a research report on Wednesday, March 20th.

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.