What is Noble Financial’s Forecast for SGA FY2024 Earnings?

Saga Communications, Inc. (NASDAQ:SGA) – Noble Financial decreased their FY2024 earnings per share estimates for shares of Saga Communications in a research note issued to investors on Tuesday, January 14th. Noble Financial analyst M. Kupinski now expects that the company will earn $0.23 per share for the year, down from their prior estimate of $0.28. The consensus estimate for Saga Communications’ current full-year earnings is $0.28 per share.

Saga Communications Stock Down 0.2 %

Shares of SGA opened at $11.86 on Thursday. The firm has a market cap of $74.24 million, a P/E ratio of 16.47 and a beta of 0.26. Saga Communications has a 12 month low of $10.75 and a 12 month high of $24.70. The stock’s 50 day moving average is $12.12 and its two-hundred day moving average is $13.85. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Saga Communications

A number of institutional investors have recently added to or reduced their stakes in SGA. Marquette Asset Management LLC increased its stake in shares of Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after acquiring an additional 894 shares during the last quarter. Aristides Capital LLC increased its position in Saga Communications by 12.7% during the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after purchasing an additional 1,220 shares during the last quarter. Empowered Funds LLC increased its position in 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 last quarter. Geode Capital Management LLC raised its stake in Saga Communications by 5.9% during the third 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 period. Finally, Dimensional Fund Advisors LP boosted its holdings in Saga Communications by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after purchasing an additional 4,015 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Insider Transactions at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were acquired at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the purchase, the insider now directly owns 863,845 shares of the company’s stock, valued at $9,718,256.25. This trade represents a 38.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate 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. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.43%. The ex-dividend date was Monday, November 25th. Saga Communications’s payout ratio is 138.89%.

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.