Townsquare Media (TSQ) Downgraded by ValuEngine to Strong Sell

Townsquare Media (NYSE:TSQ) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on TSQ. Noble Financial reiterated a “buy” rating on shares of Townsquare Media in a report on Wednesday, May 9th. Zacks Investment Research upgraded shares of Townsquare Media from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Barrington Research upgraded shares of Townsquare Media from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Tuesday, March 13th. Stephens set a $9.00 price objective on shares of Townsquare Media and gave the company a “hold” rating in a report on Tuesday, March 13th. Finally, TheStreet cut shares of Townsquare Media from a “c” rating to a “d+” rating in a report on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.80.

NYSE TSQ traded down $0.14 during mid-day trading on Thursday, reaching $6.72. 96,400 shares of the stock were exchanged, compared to its average volume of 63,058. Townsquare Media has a one year low of $6.97 and a one year high of $7.07. The company has a market capitalization of $128.05 million, a PE ratio of 9.08, a P/E/G ratio of -2.60 and a beta of 1.24. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.57.

Townsquare Media (NYSE:TSQ) last announced its earnings results on Tuesday, May 8th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Townsquare Media had a negative net margin of 6.69% and a positive return on equity of 5.73%. The business had revenue of $94.23 million during the quarter, compared to the consensus estimate of $90.67 million. equities analysts expect that Townsquare Media will post 0.89 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TSQ. Russell Investments Group Ltd. purchased a new position in Townsquare Media during the fourth quarter worth about $4,408,000. Emerald Acquisition Ltd. purchased a new position in Townsquare Media during the second quarter worth about $3,139,000. Renaissance Technologies LLC boosted its holdings in Townsquare Media by 582.1% during the fourth quarter. Renaissance Technologies LLC now owns 450,200 shares of the company’s stock worth $4,687,000 after purchasing an additional 384,200 shares during the last quarter. Boston Partners boosted its holdings in Townsquare Media by 428.1% during the second quarter. Boston Partners now owns 229,702 shares of the company’s stock worth $2,352,000 after purchasing an additional 186,202 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Townsquare Media by 132.3% during the second quarter. Northern Trust Corp now owns 212,102 shares of the company’s stock worth $2,172,000 after purchasing an additional 120,796 shares during the last quarter. Institutional investors and hedge funds own 48.70% of the company’s stock.

About Townsquare Media

Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through two segments, Local Marketing Solutions and Entertainment. The Local Marketing Solutions segment provides broadcast and digital solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Townsquare Media (NYSE:TSQ)

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