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

Key Points

• Townsquare Media declared a quarterly dividend of $0.20 (annualized $0.80) with record/ex‑dividend date on April 27 and payment on May 4, implying a yield of 13.1%.
• The dividend has been raised for three consecutive years and is currently backed by a payout ratio of 71.4%, with analysts forecasting $1.29 in EPS next year (an expected future payout ratio of ~62%).
• Shares plunged about 12.3% to $6.12 on heavy volume; the company has a market cap of roughly $100.8M, a PE of 5.94, and mixed analyst sentiment (average "Hold" and a consensus price target of $16.50).

Townsquare Media, Inc. (NYSE:TSQ - Get Free Report) declared a quarterly dividend on Monday, March 16th. Shareholders of record on Monday, April 27th will be given a dividend of 0.20 per share on Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.1%. The ex-dividend date of this dividend is Monday, April 27th.

Townsquare Media has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Townsquare Media has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 62.0%.

Townsquare Media Trading Down 12.3%

Shares of Townsquare Media stock traded down $0.86 during trading hours on Monday, reaching $6.12. The stock had a trading volume of 491,325 shares, compared to its average volume of 176,007. The stock's 50 day moving average is $6.55 and its 200 day moving average is $6.16. Townsquare Media has a twelve month low of $4.30 and a twelve month high of $9.31. The firm has a market capitalization of $100.77 million, a PE ratio of 5.94, a PEG ratio of 0.92 and a beta of 0.95.

Analyst Ratings Changes

TSQ has been the topic of several research analyst reports. Wall Street Zen lowered Townsquare Media from a "hold" rating to a "sell" rating in a report on Friday, November 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of Townsquare Media in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.50.

Townsquare Media Company Profile

Townsquare Media, Inc NYSE: TSQ is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.

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