Noble Financial Brokers Reduce Earnings Estimates for SGA

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

Saga Communications Stock Performance

Shares of NASDAQ:SGA opened at $11.63 on Friday. The business has a fifty day moving average of $12.08 and a 200-day moving average of $13.83. The firm has a market cap of $72.80 million, a PE ratio of 16.15 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications has a twelve month low of $10.75 and a twelve month high of $24.70.

Institutional Investors Weigh In On Saga Communications

A number of institutional investors and hedge funds have recently modified their holdings of SGA. Dimensional Fund Advisors LP boosted its stake in 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 acquiring an additional 4,015 shares during the last quarter. Renaissance Technologies LLC lifted its stake 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 valued at $1,933,000 after purchasing an additional 6,800 shares during the period. Geode Capital Management LLC boosted its position in shares of Saga Communications by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares during the last quarter. Empowered Funds LLC grew 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 worth $393,000 after purchasing an additional 1,340 shares during the period. Finally, Krilogy Financial LLC bought a new stake in Saga Communications in the fourth quarter valued at about $265,000. 74.28% of the stock is owned by institutional investors.

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 863,845 shares in the company, valued at approximately $9,718,256.25. This trade represents a 38.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.90% of the company’s stock.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 8.60%. Saga Communications’s dividend payout ratio (DPR) is currently 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.