Townsquare Media’s Quiet Period Set To End Tomorrow (NYSE:TSQ)
Townsquare Media’s (NYSE:TSQ) quiet period will end on Tuesday, September 2nd. Townsquare Media had issued 8,333,333 shares in its IPO on July 24th, Analyst Ratings Network.com reports. The total size of the offering was $91,666,663 based on an initial share price of $11.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research firms have recently commented on TSQ. Analysts at Macquarie initiated coverage on shares of Townsquare Media in a research note on Thursday, August 21st. They set an “outperform” rating on the stock. Separately, analysts at Guggenheim initiated coverage on shares of Townsquare Media in a research note on Monday, August 18th. They set a “buy” rating and a $14.00 price target on the stock. Finally, analysts at RBC Capital initiated coverage on shares of Townsquare Media in a research note on Monday, August 18th. They set an “outperform” rating and a $14.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Townsquare Media has a consensus rating of “Buy” and an average price target of $15.00.
Shares of Townsquare Media (NYSE:TSQ) traded up 0.89% during mid-day trading on Monday, hitting $11.35. The stock had a trading volume of 13,109 shares. Townsquare Media has a 52-week low of $9.93 and a 52-week high of $11.45. The stock’s 50-day moving average is $11.02 and its 200-day moving average is $11.02. The company has a market cap of $189.4 million and a P/E ratio of 43.77.
Townsquare Media (NYSE:TSQ) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.43 earnings per share for the quarter. Analysts expect that Townsquare Media will post $1.14 EPS for the current fiscal year.
Townsquare Media, LLC is an integrated and diversified media and entertainment company. The Company owns and operates radio stations, digital and social properties and live events in small and mid-sized markets across the United States, delivering to the communities it serves on a local level.
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