Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) announced a quarterly dividend on Tuesday, May 27th, RTT News reports. Shareholders of record on Friday, June 6th will be paid a dividend of 0.25 per share on Friday, June 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.19%. The ex-dividend date of this dividend is Friday, June 6th.
Saga Communications has raised its dividend payment by an average of 27.7% per year over the last three years. Saga Communications has a payout ratio of 135.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Saga Communications to earn $0.48 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 208.3%.
Saga Communications Price Performance
Shares of Saga Communications stock traded down $0.06 during trading on Friday, reaching $12.21. 2,692 shares of the company's stock were exchanged, compared to its average volume of 15,871. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications has a 1-year low of $10.75 and a 1-year high of $17.77. The company has a market cap of $78.66 million, a P/E ratio of 16.96 and a beta of 0.22. The firm's 50-day moving average price is $11.82 and its 200 day moving average price is $11.97.
Saga Communications (NASDAQ:SGA - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.08. The firm had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. As a group, research analysts anticipate that Saga Communications will post 0.23 earnings per share for the current year.
Hedge Funds Weigh In On Saga Communications
An institutional investor recently raised its position in Saga Communications stock. Empowered Funds LLC increased its holdings in Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,406 shares of the company's stock after purchasing an additional 1,769 shares during the quarter. Empowered Funds LLC owned approximately 0.47% of Saga Communications worth $379,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 74.28% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen started coverage on Saga Communications in a research report on Tuesday, May 20th. They issued a "hold" rating for the company.
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About Saga Communications
(
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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.
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