Saga Communications, Inc. (NASDAQ:SGA) Declares Dividend Increase – $2.00 Per Share
Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) announced a None dividend on Thursday, December 7th, NASDAQ reports. Investors of record on Wednesday, December 20th will be paid a dividend of 2.00 per share on Friday, January 12th. The ex-dividend date of this dividend is Tuesday, December 19th. This is an increase from Saga Communications’s previous None dividend of $1.80.
Saga Communications has raised its dividend payment by an average of 31.0% annually over the last three years. Saga Communications has a payout ratio of 54.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Saga Communications to earn $1.83 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 54.6%.
Saga Communications Price Performance
Shares of NASDAQ:SGA opened at $25.45 on Friday. The company has a market capitalization of $155.75 million, a P/E ratio of 13.76 and a beta of 0.40. Saga Communications has a 1 year low of $18.89 and a 1 year high of $28.85. The business’s 50 day simple moving average is $20.72 and its 200 day simple moving average is $20.96.
Saga Communications (NASDAQ:SGA – Get Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The company had revenue of $29.15 million for the quarter, compared to analyst estimates of $28.85 million. Saga Communications had a return on equity of 6.27% and a net margin of 9.91%. On average, sell-side analysts anticipate that Saga Communications will post 1.47 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Saga Communications from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.
View Our Latest Analysis on SGA
Institutional Investors Weigh In On Saga Communications
Large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Saga Communications by 24.0% in the 2nd quarter. Geode Capital Management LLC now owns 65,455 shares of the company’s stock valued at $1,398,000 after acquiring an additional 12,668 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Saga Communications by 11.4% in the 2nd quarter. Renaissance Technologies LLC now owns 120,544 shares of the company’s stock valued at $2,575,000 after acquiring an additional 12,300 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Saga Communications in the 1st quarter valued at $259,000. Susquehanna International Group LLP bought a new position in shares of Saga Communications in the 4th quarter valued at $241,000. Finally, BlackRock Inc. lifted its stake in shares of Saga Communications by 6.2% in the 2nd quarter. BlackRock Inc. now owns 101,673 shares of the company’s stock valued at $2,172,000 after acquiring an additional 5,980 shares during the last quarter. Institutional investors and hedge funds own 58.18% of the company’s stock.
About Saga Communications (Get Free Report)
Saga Communications, Inc, a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company’s radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.
See Also
NASDAQ: SGA’ width=”650″ height=”325″ />
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Saga Communications, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Saga Communications wasn’t on the list.
While Saga Communications currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.