Saga Communications, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:SGA)

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) announced a quarterly dividend on Tuesday, May 27th, RTT News reports. Stockholders 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 8.15%. The ex-dividend date of this dividend is Friday, June 6th.

Saga Communications has increased its dividend by an average of 27.7% annually over the last three years. Saga Communications has a payout ratio of 135.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

SGA traded up $0.28 during trading hours on Thursday, reaching $12.27. The company's stock had a trading volume of 3,121 shares, compared to its average volume of 15,939. The firm has a market cap of $79.04 million, a PE ratio of 17.04 and a beta of 0.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. The company's 50-day moving average is $11.83 and its 200-day moving average is $11.97. Saga Communications has a 52 week low of $10.75 and a 52 week high of $18.19.

Saga Communications (NASDAQ:SGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.08. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. The firm had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. On average, equities analysts forecast that Saga Communications will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Saga Communications

A hedge fund recently raised its stake in Saga Communications stock. Empowered Funds LLC boosted its holdings in Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,406 shares of the company's stock after purchasing an additional 1,769 shares during the quarter. Empowered Funds LLC owned about 0.47% of Saga Communications worth $379,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 74.28% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Saga Communications in a research report on Tuesday, May 20th. They set a "hold" rating on the stock.

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.