Bank of America Corporation Downgrades Townsquare Media, Inc. (TSQ) to Underperform
Bank of America Corporation cut shares of Townsquare Media, Inc. (NYSE:TSQ) from a buy rating to an underperform rating in a research report sent to investors on Friday morning, Marketbeat reports.
A number of other research firms also recently weighed in on TSQ. Zacks Investment Research raised shares of Townsquare Media from a hold rating to a buy rating and set a $12.00 price target for the company in a research report on Wednesday, July 19th. Royal Bank Of Canada set a $13.00 price target on shares of Townsquare Media and gave the stock a buy rating in a research note on Tuesday, July 18th. Noble Financial reaffirmed a buy rating on shares of Townsquare Media in a report on Friday, August 11th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $13.00 price target on shares of Townsquare Media in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $12.67.
Shares of Townsquare Media (TSQ) opened at 10.04 on Friday. The firm has a market cap of $185.52 million, a price-to-earnings ratio of 13.30 and a beta of 1.74. Townsquare Media has a 12 month low of $8.12 and a 12 month high of $13.01. The stock’s 50 day moving average price is $10.04 and its 200 day moving average price is $10.68.
Townsquare Media (NYSE:TSQ) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Townsquare Media had a return on equity of 6.85% and a net margin of 4.11%. The business had revenue of $140.66 million for the quarter, compared to analysts’ expectations of $141.49 million. Equities research analysts predict that Townsquare Media will post $0.95 earnings per share for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors increased its holdings in Townsquare Media by 6.3% in the first quarter. Nationwide Fund Advisors now owns 16,876 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Townsquare Media by 4.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 33,663 shares of the company’s stock worth $410,000 after buying an additional 1,335 shares during the last quarter. Hancock Holding Co. lifted its holdings in Townsquare Media by 10.5% during the 2nd quarter. Hancock Holding Co. now owns 18,258 shares of the company’s stock worth $187,000 after buying an additional 1,740 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Townsquare Media by 10.5% during the 2nd quarter. Teachers Advisors LLC now owns 21,344 shares of the company’s stock worth $219,000 after buying an additional 2,023 shares during the last quarter. Finally, Delphi Management Inc. MA lifted its holdings in Townsquare Media by 2.8% during the 2nd quarter. Delphi Management Inc. MA now owns 86,764 shares of the company’s stock worth $888,000 after buying an additional 2,350 shares during the last quarter. 49.12% of the stock is owned by hedge funds and other institutional investors.
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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