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

Saga Communications (NASDAQ:SGA) released 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. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. The company had revenue of $28.17 million during the quarter, compared to analyst estimates of $28.30 million.

Saga Communications Stock Performance

NASDAQ:SGA traded up $0.27 during mid-day trading on Friday, hitting $12.38. The stock had a trading volume of 6,234 shares, compared to its average volume of 9,923. Saga Communications has a twelve month low of $10.75 and a twelve month high of $14.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a market cap of $79.73 million, a price-to-earnings ratio of 37.52 and a beta of 0.26. The company’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $12.49.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.1%. The ex-dividend date was Tuesday, August 26th. Saga Communications’s dividend payout ratio (DPR) is 303.03%.

Analyst Ratings Changes

Separately, Weiss Ratings restated 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, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Saga Communications stock. Osaic Holdings Inc. increased its holdings in shares of Saga Communications, Inc. (NASDAQ:SGA) by 256.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,984 shares of the company’s stock after acquiring an additional 2,867 shares during the quarter. Osaic Holdings Inc. owned about 0.06% of Saga Communications worth $52,000 as of its most recent SEC filing. Institutional investors 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.