$141.49 Million in Sales Expected for Townsquare Media, Inc. (NYSE:TSQ) This Quarter
Analysts expect Townsquare Media, Inc. (NYSE:TSQ) to report $141.49 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Townsquare Media’s earnings, with estimates ranging from $140.00 million to $142.86 million. Townsquare Media reported sales of $137.16 million during the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The business is scheduled to issue its next quarterly earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Townsquare Media will report full year sales of $141.49 million for the current year, with estimates ranging from $520.42 million to $527.20 million. For the next year, analysts forecast that the company will post sales of $549.52 million per share, with estimates ranging from $546.50 million to $552.53 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Townsquare Media.
Townsquare Media (NYSE:TSQ) last issued its earnings results on Tuesday, May 9th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Townsquare Media had a return on equity of 6.80% and a net margin of 4.20%. The firm had revenue of $88.42 million during the quarter, compared to analysts’ expectations of $88.90 million.
Separately, Jefferies Group LLC lifted their target price on Townsquare Media from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th.
Shares of Townsquare Media (TSQ) traded down 0.88% during midday trading on Thursday, hitting $10.12. The company had a trading volume of 13,979 shares. The firm has a market capitalization of $186.90 million, a PE ratio of 12.96 and a beta of 1.70. The company has a 50-day moving average of $10.17 and a 200 day moving average of $10.82. Townsquare Media has a 12 month low of $7.65 and a 12 month high of $13.01.
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A number of hedge funds have recently made changes to their positions in TSQ. Two Sigma Investments LP purchased a new position in Townsquare Media during the fourth quarter worth $1,090,000. Renaissance Technologies LLC raised its stake in shares of Townsquare Media by 582.1% in the fourth quarter. Renaissance Technologies LLC now owns 450,200 shares of the company’s stock valued at $4,687,000 after buying an additional 384,200 shares during the last quarter. Numeric Investors LLC purchased a new stake in shares of Townsquare Media during the fourth quarter valued at approximately $1,152,000. Dimensional Fund Advisors LP raised its stake in shares of Townsquare Media by 173.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 75,832 shares of the company’s stock valued at $789,000 after buying an additional 48,078 shares during the last quarter. Finally, Hancock Holding Co. purchased a new stake in shares of Townsquare Media during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 48.73% of the company’s stock.
Townsquare Media Company Profile
Townsquare Media, Inc is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets.
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