Townsquare Media, Inc. (NYSE:TSQ) Announces 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 given a dividend of 0.20 per share on Thursday, May 1st. This represents a $0.80 annualized dividend 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 dividend payout ratio of 45.4% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Townsquare Media stock traded down $0.12 during trading hours on Tuesday, hitting $8.03. 52,414 shares of the stock traded hands, compared to its average volume of 58,830. The firm’s 50 day moving average price is $8.77 and its 200-day moving average price is $9.57. The stock has a market capitalization of $124.76 million, a price-to-earnings ratio of -2.96, a P/E/G ratio of 0.58 and a beta of 1.33. Townsquare Media has a 1 year low of $7.56 and a 1 year high of $13.57.

Townsquare Media (NYSE:TSQ) last posted its quarterly earnings results on Monday, March 17th. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The business had revenue of $117.81 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.34 EPS. Research analysts forecast that Townsquare Media will post 1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSQ has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $15.00 price target on shares of Townsquare Media in a research note on Tuesday. Noble Financial restated an “outperform” rating and issued a $21.00 target price on shares of Townsquare Media in a research note on Friday, January 24th.

Insider Transactions at Townsquare Media

In related news, EVP Scott Schatz sold 5,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $9.64, for a total value of $48,200.00. Following the completion of the transaction, the executive vice president now owns 38,068 shares of the company’s stock, valued at approximately $366,975.52. This represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 20,094 shares of company stock worth $191,807 over the last quarter. 30.50% of the stock is currently owned by insiders.

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.