Townsquare Media, Inc. (NYSE:TSQ) Forecasted to Post FY2023 Earnings of $2.10 Per Share

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Townsquare Media, Inc. (NYSE:TSQ) – Equities researchers at Barrington Research issued their FY2023 earnings per share estimates for shares of Townsquare Media in a research report issued on Tuesday, April 20th. Barrington Research analyst J. Goss expects that the company will post earnings per share of $2.10 for the year. Barrington Research currently has a “Outperform” rating and a $15.00 target price on the stock.

Separately, Zacks Investment Research cut Townsquare Media from a “buy” rating to a “hold” rating in a research report on Tuesday, February 23rd.

NYSE TSQ opened at $9.67 on Wednesday. The company has a debt-to-equity ratio of 5.67, a current ratio of 2.13 and a quick ratio of 2.13. Townsquare Media has a 1 year low of $4.09 and a 1 year high of $12.51. The business’s 50-day moving average is $10.52 and its 200 day moving average is $7.95.

Townsquare Media (NYSE:TSQ) last released its quarterly earnings data on Monday, March 15th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.13). The company had revenue of $108.49 million during the quarter, compared to analysts’ expectations of $107.93 million. Townsquare Media had a negative return on equity of 64.93% and a negative net margin of 43.84%.

A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its holdings in shares of Townsquare Media by 23.6% during the 3rd quarter. Sei Investments Co. now owns 48,000 shares of the company’s stock valued at $224,000 after purchasing an additional 9,169 shares during the last quarter. Abacus Planning Group Inc. purchased a new stake in shares of Townsquare Media during the 4th quarter valued at about $89,000. Group One Trading L.P. purchased a new stake in shares of Townsquare Media during the 4th quarter valued at about $67,000. Renaissance Technologies LLC raised its position in Townsquare Media by 4.0% in the 4th quarter. Renaissance Technologies LLC now owns 593,506 shares of the company’s stock worth $3,953,000 after purchasing an additional 22,554 shares during the period. Finally, Cumberland Partners Ltd purchased a new stake in Townsquare Media in the 4th quarter worth about $67,000. 44.72% of the stock is owned by institutional investors.

In other Townsquare Media news, Director David Quick sold 1,595,224 shares of the business’s stock in a transaction on Tuesday, March 9th. The shares were sold at an average price of $6.40, for a total transaction of $10,209,433.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.80% of the stock is currently owned by insiders.

Townsquare Media Company Profile

Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. It operates through Advertising, Townsquare Interactive, and Live Events segments. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications; and digital advertising services, as well as operates Townsquare Ignite, a digital programmatic advertising platform.

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Earnings History and Estimates for Townsquare Media (NYSE:TSQ)

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