Q4 EPS Estimate for Saga Communications Reduced by Analyst

Saga Communications, Inc. (NASDAQ:SGA - Free Report) - Stock analysts at Noble Financial lowered their Q4 2024 earnings estimates for Saga Communications in a report issued on Tuesday, January 14th. Noble Financial analyst M. Kupinski now anticipates that the company will post earnings per share of ($0.12) for the quarter, down from their prior forecast of ($0.07). The consensus estimate for Saga Communications' current full-year earnings is $0.28 per share.

Saga Communications Stock Up 2.7 %

Shares of SGA stock traded up $0.31 on Friday, hitting $11.94. The stock had a trading volume of 19,939 shares, compared to its average volume of 24,249. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The business has a 50 day moving average of $12.04 and a 200 day moving average of $13.82. Saga Communications has a 12-month low of $10.75 and a 12-month high of $24.70. The stock has a market cap of $74.74 million, a price-to-earnings ratio of 16.58 and a beta of 0.26.

Hedge Funds Weigh In On Saga Communications

Several institutional investors have recently added to or reduced their stakes in the stock. Krilogy Financial LLC bought a new stake in Saga Communications in the fourth quarter worth about $265,000. Renaissance Technologies LLC raised its holdings in shares of Saga Communications by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company's stock worth $1,933,000 after purchasing an additional 6,800 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Saga Communications by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company's stock worth $5,691,000 after purchasing an additional 4,015 shares during the period. Geode Capital Management LLC lifted its stake in Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company's stock valued at $771,000 after purchasing an additional 2,986 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in 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 purchasing an additional 1,340 shares during the period. Institutional investors own 74.28% of the company's stock.

Insiders Place Their Bets

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the stock in a transaction dated Tuesday, December 31st. The shares were bought at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the purchase, the insider now directly owns 863,845 shares of the company's stock, valued at approximately $9,718,256.25. This trade represents a 38.61 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.90% of the company's stock.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 8.38%. Saga Communications's dividend payout ratio (DPR) is 138.89%.

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.