Saga Communications (NASDAQ:SGA) Posts Earnings Results, Beats Expectations By $0.27 EPS

Saga Communications (NASDAQ:SGA) released its quarterly earnings results on Tuesday. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.27, Zacks reports. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%.

Saga Communications Stock Up 2.7 %

Shares of NASDAQ SGA traded up $0.30 on Tuesday, reaching $11.41. 462 shares of the company’s stock traded hands, compared to its average volume of 16,986. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $11.92 and its two-hundred day simple moving average is $12.98. Saga Communications has a 12 month low of $10.75 and a 12 month high of $23.95. The company has a market cap of $71.44 million, a price-to-earnings ratio of 16.03 and a beta of 0.27.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.76%. The ex-dividend date of this dividend was Tuesday, February 18th. Saga Communications’s payout ratio is currently 138.89%.

Insider Buying and Selling

In other news, major shareholder Edward K. Christian Trust sold 2,326 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $12.10, for a total transaction of $28,144.60. Following the transaction, the insider now directly owns 962,280 shares of the company’s stock, valued at $11,643,588. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Gate City Capital Management, purchased 240,609 shares of Saga Communications stock in a transaction dated Tuesday, December 31st. The stock was bought at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 15,943 shares of company stock worth $200,590 in the last 90 days. Insiders own 21.90% of the company’s stock.

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.