Townsquare Media (TSQ) got here out with quarterly earnings of $0.53 per share, lacking the Zacks Consensus Estimate of $0.59 per share. This compares to lack of $0.40 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of -10.17%. 1 / 4 in the past, it was anticipated that this operator of radio stations in small and mid-sized markets would publish earnings of $0.12 per share when it really produced earnings of $0.17, delivering a shock of 41.67%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
Townsquare, which belongs to the Zacks Broadcast Radio and Tv business, posted revenues of $107.34 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 4.18%. This compares to year-ago revenues of $74.06 million. The corporate has topped consensus income estimates 4 occasions over the past 4 quarters.
The sustainability of the inventory’s fast worth motion primarily based on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Townsquare shares have added about 84.7% because the starting of the yr versus the S&P 500’s achieve of 16.8%.
What’s Subsequent for Townsquare?
Whereas Townsquare has outperformed the market to this point this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions development for Townsquare was combined. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You possibly can see the entire listing of right now’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.23 on $99.22 million in revenues for the approaching quarter and $1.30 on $397.59 million in revenues for the present fiscal yr.
Traders must be conscious of the truth that the outlook for the business can have a cloth impression on the efficiency of the inventory as nicely. By way of the Zacks Trade Rank, Broadcast Radio and Tv is at present within the backside 25% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Townsquare Media, Inc. (TSQ): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.