Saga Communications (NASDAQ:SGA) Releases Earnings Results, Misses Estimates By $0.29 EPS

Saga Communications (NASDAQ:SGA) issued its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29), Zacks reports. The company had revenue of $28.17 million during the quarter, compared to analyst estimates of $28.30 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%.

Saga Communications Stock Down 1.7%

Shares of NASDAQ:SGA traded down $0.21 during trading on Thursday, reaching $12.11. 21,252 shares of the company traded hands, compared to its average volume of 9,940. The firm has a fifty day simple moving average of $12.35 and a 200 day simple moving average of $12.48. The firm has a market cap of $77.99 million, a P/E ratio of 36.70 and a beta of 0.26. Saga Communications has a 1-year low of $10.75 and a 1-year high of $14.27. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, August 26th were given a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a yield of 8.3%. Saga Communications’s dividend payout ratio is presently 303.03%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Saga Communications in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Trading of Saga Communications

A hedge fund recently raised its stake in Saga Communications stock. Empowered Funds LLC boosted its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,406 shares of the company’s stock after purchasing an additional 1,769 shares during the period. Empowered Funds LLC owned 0.47% of Saga Communications worth $379,000 at the end of the most recent reporting period. 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.