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

Saga Communications (NASDAQ:SGA) announced its earnings results on Tuesday. The company reported $0.20 earnings per share for the quarter, beating 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 Price Performance

NASDAQ:SGA traded up $0.43 during trading hours on Tuesday, hitting $11.54. 479 shares of the stock traded hands, compared to its average volume of 16,986. The stock has a 50 day moving average price of $11.92 and a 200 day moving average price of $12.98. 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 company has a market cap of $72.25 million, a price-to-earnings ratio of 15.85 and a beta of 0.27. Saga Communications has a 1 year low of $10.75 and a 1 year high of $23.95.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.67%. The ex-dividend date of this dividend was Tuesday, February 18th. Saga Communications’s dividend payout ratio is 138.89%.

Insider Activity at Saga Communications

In related news, major shareholder Gate City Capital Management, bought 240,609 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was bought at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. The trade was a 38.61 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Edward K. Christian Trust sold 5,651 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72. Following the completion of the sale, the insider now owns 945,000 shares in the company, valued at approximately $12,020,400. The trade was a 0.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,943 shares of company stock worth $200,590. 21.90% of the stock is owned by corporate insiders.

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.