Wall Street brokerages forecast that Townsquare Media, Inc. (NYSE:TSQ) will announce $168.49 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Townsquare Media’s earnings, with estimates ranging from $166.93 million to $170.25 million. Townsquare Media posted sales of $165.76 million in the same quarter last year, which suggests a positive year over year growth rate of 1.6%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, November 7th.
On average, analysts expect that Townsquare Media will report full year sales of $168.49 million for the current financial year, with estimates ranging from $520.40 million to $521.22 million. For the next fiscal year, analysts forecast that the firm will report sales of $538.90 million per share, with estimates ranging from $533.65 million to $543.86 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Townsquare Media.
Townsquare Media (NYSE:TSQ) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). Townsquare Media had a net margin of 4.11% and a return on equity of 6.85%. The business had revenue of $140.66 million during the quarter, compared to analyst estimates of $141.49 million.
Several equities research analysts have weighed in on the stock. Bank of America Corporation lowered shares of Townsquare Media from a “buy” rating to an “underperform” rating in a report on Friday, September 29th. Royal Bank Of Canada set a $13.00 target price on shares of Townsquare Media and gave the stock a “buy” rating in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Townsquare Media in a report on Tuesday, September 12th. Noble Financial reiterated a “buy” rating on shares of Townsquare Media in a report on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Townsquare Media from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.33.
Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Townsquare Media during the second quarter worth $114,000. Ameriprise Financial Inc. bought a new stake in shares of Townsquare Media during the second quarter worth $128,000. Prudential Financial Inc. bought a new stake in shares of Townsquare Media during the second quarter worth $135,000. Nationwide Fund Advisors increased its position in shares of Townsquare Media by 6.3% during the first quarter. Nationwide Fund Advisors now owns 16,876 shares of the company’s stock worth $206,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in shares of Townsquare Media during the second quarter worth $174,000. 49.01% of the stock is owned by institutional investors.
Townsquare Media (NYSE TSQ) traded down $0.05 on Tuesday, reaching $10.22. 25,259 shares of the company’s stock traded hands, compared to its average volume of 45,094. The company has a market cap of $190.13, a price-to-earnings ratio of 11.31 and a beta of 1.74.
About Townsquare Media
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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