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

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

Saga Communications Stock Down 1.9 %

NASDAQ SGA opened at $11.63 on Thursday. Saga Communications has a 1 year low of $10.75 and a 1 year high of $24.70. The stock has a market capitalization 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 current ratio of 2.64 and a quick ratio of 2.64. The business’s 50-day moving average is $12.08 and its 200 day moving average is $13.83.

Institutional Investors Weigh In On Saga Communications

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after purchasing an additional 2,986 shares during the last quarter. Renaissance Technologies LLC raised its stake in Saga Communications by 5.9% during the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after buying an additional 6,800 shares during the last quarter. Marquette Asset Management LLC raised its stake in Saga Communications by 4.2% during the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after buying an additional 894 shares during the last quarter. Empowered Funds LLC boosted its holdings in Saga Communications by 5.1% in the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after acquiring an additional 1,340 shares in the last quarter. Finally, Aristides Capital LLC grew its stake in shares of Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after acquiring an additional 1,220 shares during the last quarter. Institutional investors own 74.28% of the company’s stock.

Insider Activity at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were purchased at an average price of $11.25 per share, for a total transaction of $2,706,851.25. Following the acquisition, the insider now owns 863,845 shares in the company, valued at approximately $9,718,256.25. This represents a 38.61 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 21.90% of the stock is owned by corporate insiders.

Saga Communications Announces Dividend

The firm also recently announced 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 of this dividend 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 presently 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.