Townsquare Media, Inc. (NYSE:TSQ) Increases Dividend to $0.20 Per Share

Townsquare Media, Inc. (NYSE:TSQ) announced a quarterly dividend on Monday, March 17th, Wall Street Journal reports. Stockholders 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 dividend 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. 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 Stock Performance

Shares of NYSE TSQ traded down $0.12 during midday trading on Tuesday, hitting $8.03. 52,414 shares of the company’s stock traded hands, compared to its average volume of 56,528. Townsquare Media has a 1 year low of $7.56 and a 1 year high of $13.57. The stock has a market capitalization of $124.76 million, a price-to-earnings ratio of -2.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33. The firm has a fifty day moving average of $8.77 and a 200 day moving average of $9.57.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings results on Monday, March 17th. The company reported $0.60 EPS for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $117.81 million during the quarter, compared to analyst estimates of $116.41 million. Townsquare Media had a negative net margin of 8.84% and a negative return on equity of 57.10%. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, equities analysts anticipate that Townsquare Media will post 1.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Claire Marie Yenicay sold 5,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $9.22, for a total transaction of $46,100.00. Following the completion of the transaction, the executive vice president now directly owns 214,953 shares in the company, valued at approximately $1,981,866.66. This represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Schatz sold 4,594 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $9.65, for a total value of $44,332.10. Following the transaction, the executive vice president now owns 31,366 shares of the company’s stock, valued at $302,681.90. This represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,094 shares of company stock worth $191,807 in the last three months. 30.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSQ shares. Barrington Research reissued an “outperform” rating and issued a $15.00 target price on shares of Townsquare Media in a report on Tuesday. Noble Financial reissued an “outperform” rating and issued a $21.00 target price on shares of Townsquare Media in a report on Friday, January 24th.

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.