Saga Communications (NASDAQ:SGA) Issues Quarterly Earnings Results, Misses Expectations By $0.29 EPS

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

Saga Communications Stock Up 2.2%

Shares of SGA traded up $0.27 during trading on Friday, reaching $12.38. The company’s stock had a trading volume of 6,231 shares, compared to its average volume of 9,921. The company has a market cap of $79.73 million, a price-to-earnings ratio of 37.52 and a beta of 0.26. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $12.35 and a two-hundred day moving average of $12.48. Saga Communications has a twelve month low of $10.75 and a twelve month high of $14.27.

Saga Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, August 26th were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 8.1%. Saga Communications’s payout ratio is currently 303.03%.

Institutional Trading of Saga Communications

A hedge fund recently raised its stake in Saga Communications stock. Empowered Funds LLC grew its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,406 shares of the company’s stock after buying an additional 1,769 shares during the period. Empowered Funds LLC owned about 0.47% of Saga Communications worth $379,000 as of its most recent SEC filing. Institutional investors and hedge funds own 74.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Saga Communications in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Saga Communications Company Profile

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.