Stock in Wall Street Spotlight: Saga Communications, Inc. (NASDAQ:SGA)

Earnings News, Technology

Saga Communications, Inc. (NASDAQ:SGA) reported change of -0.40% to $34.9 with the recent traded volume of 2830 shares in most recent trading session compared to an average volume of 4.46K. The stock was changed with 0.23% over last five days period.

The one month performance of stock was noted at -3.46%. SGA’s shares are moving at -1.13% for the quarter and managed a -18.73% return over the course of the past year and is now at -13.72% since this point in 2018.

Saga Communications, Inc. (NASDAQ:SGA) declared net revenue increased 4.6% to $31.7 million for the quarter ended September 30, 2018.  Income from continuing operations (net of tax) increased $730 thousand to $3.7 million compared to $3.0 million last year.  Operating income decreased 3.4% to $5.3 million and station operating expense increased 7.7% to $23.4 million for the quarter.  Diluted earnings per share from continuing operations was $0.62/share in the third quarter of 2018 compared to $0.50/share during the same period in 2017.  Free cash flow from continuing operations was $5.2 million for the quarter ended September 30, 2018 compared to $4.0 million for the same period last year.

On a same station basis for the quarter ended September 30, 2018 net revenue was flat with the same quarter last year at $29.6 million, Operating income decreased $200 thousand to $5.2 million and station operating expense increased 1.8% to $21.6 million.

Net revenue increased 6.0% to $91.9 million for the nine months ended September 30, 2018.  Income from continuing operations (net of tax) increased $2.0 million to $9.4 million compared to $7.4 million last year.  Operating income increased 2.4% to $13.7 million and station operating expense increased 8.4% to $70.0 million for the nine month period.  Diluted earnings per share from continuing operations was $1.58/share for the nine month period in 2018 compared to $1.25/share during the same period in 2017.  Free cash flow from continuing operations was $13.5 million for the nine months ended September 30, 2018 compared to $10.8 million for the same period last year.

On a same station basis for the nine months ended September 30, 2018 net revenue was approximately flat with the nine month period last year at $85.7 million, Operating income from continuing operations increased $385 thousand to $13.6 million and station operating expense increased 0.4% at $64.1 million.

The Company had $48.8 million in cash on hand as of September 30, 2018 and $50.5 million as of October 31, 2018.  The Company’s total long-term debt was $20 million as of September 30, 2018.

The results for the quarter and nine month period were affected by the sale of the Company’s television stations and purchase of radio stations in Charleston and Hilton Head, SC on September 1, 2017.

Capital expenditures from continuing operations were $1.5 million in the third quarter compared to $1.4 million for the same period last year.  The Company expects to spend approximately $6.0 million for capital expenditures during 2018.

The Company announced on October 30, 2018 that it has entered into an agreement to purchase the assets of WOGK(FM), WNDT(FM), WNDD(FM) and WNDN(FM), from Ocala Broadcasting Corporation, LLC.  All the stations serve the Gainesville-Ocala, Florida radio market.

The stock beta value is 1.15. SGA stock changed at -7.84% distance from its 200-day moving average. On a similar note, the stock marked distance of -3.53% from its 50-day moving average and moved -1.56% away from its 20-day moving average. The average volatility for the week and month was at 3.37% and 2.09% respectively. Its quarter to quarter sales remained -42.90% and sales observed at -1.90% over past 5 years. The company holds 5.98 million shares outstanding and 4.93 million shares are floated in market.

Cesar Melton is an author, journalist and CEO of mosttradedstocks.com, a leading stocks and markets website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. Cesar has always been interested in the stock market and how it behaves.

As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Cesar observations and experience give him the insight to stock market patterns and the investor behaviors that create them.

Email: Cesar@mosttradedstocks.com 

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