Q4 EPS Forecast for Saga Communications Lowered by Analyst

Saga Communications, Inc. (NASDAQ:SGA) – Analysts at Noble Financial decreased their Q4 2024 earnings per share (EPS) estimates for shares of Saga Communications in a report issued on Tuesday, January 14th. Noble Financial analyst M. Kupinski now anticipates that the company will earn ($0.12) per share for the quarter, down from their previous estimate of ($0.07). The consensus estimate for Saga Communications’ current full-year earnings is $0.28 per share.

Saga Communications Stock Up 2.7 %

SGA stock opened at $11.94 on Friday. The company has a market cap of $74.74 million, a PE ratio of 16.58 and a beta of 0.26. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications has a 52 week low of $10.75 and a 52 week high of $24.70. The business has a 50-day simple moving average of $12.04 and a 200 day simple moving average of $13.82.

Saga Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date of this dividend was Monday, November 25th. Saga Communications’s dividend payout ratio (DPR) is presently 138.89%.

Insider Buying and Selling

In other Saga Communications news, major shareholder Gate City Capital Management, acquired 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the transaction, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 21.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Saga Communications

Several hedge funds have recently modified their holdings of SGA. Dimensional Fund Advisors LP increased its stake in shares of Saga Communications by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after buying an additional 4,015 shares during the period. Renaissance Technologies LLC grew its holdings in Saga Communications by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock worth $1,933,000 after acquiring an additional 6,800 shares during the last quarter. Aristides Capital LLC increased its position in Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after acquiring an additional 1,220 shares during the period. Marquette Asset Management LLC raised its stake in shares of Saga Communications by 4.2% during the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock valued at $393,000 after acquiring an additional 1,340 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

About Saga Communications

Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.