Saga Communications, Inc.

NasdaqGM:SGA Stock Report

Market Cap: US$65.3m

Saga Communications Future Growth

Future criteria checks 0/6

Saga Communications's revenue is forecast to decline at 0.07% per annum while its annual earnings are expected to grow at 73.3% per year. EPS is expected to grow by 73.5% per annum.

Key information

73.3%

Earnings growth rate

73.51%

EPS growth rate

Media earnings growth35.7%
Revenue growth rate-0.07%
Future return on equityn/a
Analyst coverage

Low

Last updated11 May 2026

Recent future growth updates

No updates

Recent updates

Analysis Article • Feb 15

Saga Communications (NASDAQ:SGA) Will Pay A Dividend Of $0.25

The board of Saga Communications, Inc. ( NASDAQ:SGA ) has announced that it will pay a dividend of $0.25 per share on...
Analysis Article • Nov 16

Saga Communications (NASDAQ:SGA) Will Pay A Dividend Of $0.25

Saga Communications, Inc. ( NASDAQ:SGA ) has announced that it will pay a dividend of $0.25 per share on the 12th of...
Analysis Article • Aug 15

Weak Statutory Earnings May Not Tell The Whole Story For Saga Communications (NASDAQ:SGA)

The market rallied behind Saga Communications, Inc.'s ( NASDAQ:SGA ) stock, leading do a rise in the share price after...
Analysis Article • Mar 12

Unpleasant Surprises Could Be In Store For Saga Communications, Inc.'s (NASDAQ:SGA) Shares

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
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New Narrative • Sep 28

Digital Expansion And E-commerce Promise Growth Amid Analysts' Revenue And Margin Concerns

Expansion in digital/interactive spaces and e-commerce alongside online news services aims at diversifying income and enhancing community engagement.
Analysis Article • Jun 05

Saga Communications, Inc.'s (NASDAQ:SGA) Popularity With Investors Under Threat As Stock Sinks 27%

Saga Communications, Inc. ( NASDAQ:SGA ) shareholders that were waiting for something to happen have been dealt a blow...
Analysis Article • May 23

Investors Can Find Comfort In Saga Communications' (NASDAQ:SGA) Earnings Quality

Saga Communications, Inc.'s ( NASDAQ:SGA ) earnings announcement last week didn't impress shareholders. While the...
Analysis Article • Dec 11

Some Investors May Be Worried About Saga Communications' (NASDAQ:SGA) Returns On Capital

When researching a stock for investment, what can tell us that the company is in decline? Businesses in decline often...
Seeking Alpha • Sep 20

Saga Communications raises dividend by 25% to $0.25, special dividend of $2

Saga Communications (NASDAQ:SGA) declares $0.25/share quarterly dividend, 25% increase from prior dividend of $0.20. Company also declared a special dividend of $2 per share. Forward yield 3.84% Payable Oct. 21; for shareholders of record Oct. 3; ex-div Sept. 30. See SGA Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Aug 29

Saga Communications: An Acquisition Target?

Summary After the CEO's passing, current super-voting shares at Saga Communications have reverted to normal Class A shares. Saga owns a significant portion of their infrastructure and generates attractive levels of free cash flow from these assets. At a high level, I expect a sale of the business could generate $31-$51 per share. Saga Communications (SGA) is a closely held, small-market radio broadcaster. The stock has long been viewed as "cheap" when you consider their real estate assets, free cash flow generation, and high cash balance. Despite this, historic stock performance has left much to be desired: Seeking Alpha However, due to the recent passing of their CEO, Ed Christian, the business appears positioned for a value-unlocking event. The pioneering CEO held voting control over the company and as a result of his passing, the following has changed per the recent 8-K: As of the date of his passing on August 19, 2022, Edward K. Christian held approximately 65% of the combined voting power of the Company’s Common Stock based on Class B Common Stock generally being entitled to ten votes per share. As a result, Mr. Christian was generally able to control the vote on most matters submitted to the vote of stockholders and, therefore, was able to direct our management and policies, except with respect to (i) the election of the two Class A directors, (ii) those matters where the shares of our Class B Common Stock are only entitled to one vote per share, and (iii) other matters requiring a class vote under the provisions of our certificate of incorporation, bylaws or applicable law. Mr. Christian’s passing and the resultant transfer of his Class B shares into an estate planning trust results in an automatic conversion of each Class B Share he held into one fully paid and non-assessable Class A Share. Upon the settling of Mr. Christian’s estate, the Edward K. Christian Trust u/a/d/ December 29, 1998, will be the owner of 965,149 shares of Class A Common Stock, which represents approximately 15.95% of the Company’s outstanding Common Stock when accounting for the conversion of Class B shares to Class A Shares. Michael Dallaire, Esquire (Mr. Christian’s nephew) and Judith A. Christian (Mr. Christian’s spouse) are co-trustees of the trust. As outlined, the voting dynamic at SGA will drastically change. The super-voting Class B shares convert to Class A shares, leaving a single class of 6.0m total shares. Major shareholders have a new voice in the operations of the company: TowerView –19.4% of pro-forma Class A (and ~15% of Daniel Tisch’s holdings) T. Rowe Price, Dimensional, & FMR – 26.6% of pro-forma Class A Gate City – 5.2% of pro-forma Class A This is particularly unique as peer public radio businesses are closely held with voting rights not evenly distributed - including Townsquare Media (TSQ) and Audacy (AUD). This wrinkle seems to discourage investment in the space and depress valuations. With Saga now open for activist involvement, I suspect a move will be made to unlock value. In this vein, TowerView has already filed an updated form 13, with cryptic commentary not present in their prior form 13: TowerView may in the future have conversations with members of the Board of Directors, senior management of the Company or others regarding the future direction of the Company. Valuation Build Saga has earned $22.2m of EBITDA in the trailing twelve months (I include “non-cash” compensation vs the $23.5m figure reported by SGA). They grew EBITDA about 15% in the first six months of FY22 vs FY21 as well, a great sign that the business isn’t too much of a melting ice cube. Adjusting for $2m of cash taxes and $5m of maintenance CapEx, Saga is about a $15m FCF business in its current form. There is about $10m of SG&A also running through the income statement, of which $3.2m alone in FY21 related to the CEO’s compensation (clearly excessive with CFO and Ops President both earning ~$500k by comparison). We assume most of this corporate expense could be a synergy in a transaction. Also, real estate. Per the 10-K: As of December 31, 2021, the studios and offices of 25 of our 28 operating locations, including our corporate headquarters in Michigan, are located in facilities we own. The remaining studios and offices are located in leased facilities with lease terms that expire in 0.7 years to 2.9 years. We own or lease our transmitter and antenna sites, with lease terms that expire in 1 year to 69 years.” Owned PP&E were carried on the balance sheet at $54.3m as of Jun-22, net of depreciation, and the gross carrying value of the land, buildings, and towers exceeds $75m. There has only been one recent sale of real estate: “During the first quarter of 2020, we sold land and a building on one of our tower sites in our Bellingham, Washington market for approximately $1,700,000 to Talbot Real Estate, LLC resulting in a $1,400,000 gain on the sale of assets." This is noteworthy as tower sites are rather valuable, and SGA still owns some. I don’t believe all of SGA’s properties could be sold for a 400% gain on book value, but I’m comfortable assuming they are worth at least the stated book value, and could be worth over $100m.
Seeking Alpha • Aug 22

Saga Communications CEO passed away

Saga Communications (NASDAQ:SGA) announces passing of our founder, Chairman, President and CEO, Ed Christian. Ed passed away on Friday, August 19 after a short illness. Warren Lada, a member of Board of Directors and former COO, has been appointed by the Board to serve as the interim CEO.
Seeking Alpha • Aug 05

Saga Communications GAAP EPS of $0.63, revenue of $29.82M

Saga Communications press release (NASDAQ:SGA): Q2 GAAP EPS of $0.63. Revenue of $29.82M (+6.3% Y/Y).

Earnings and Revenue Growth Forecasts

NasdaqGM:SGA - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2027106-2N/AN/A1
12/31/2026104-3N/AN/A1
3/31/2026106-815N/A
12/31/2025107-825N/A
9/30/2025110069N/A
6/30/20251102811N/A
3/31/20251123211N/A
12/31/20241133414N/A
9/30/20241165212N/A
6/30/20241166414N/A
3/31/202411571014N/A
12/31/202311691115N/A
9/30/2023114111217N/A
6/30/202311581116N/A
3/31/202311591017N/A
12/31/202211591117N/A
9/30/202211481320N/A
6/30/2022113121117N/A
3/31/2022111111519N/A
12/31/2021108111519N/A
9/30/2021108101518N/A
6/30/202110351013N/A
3/31/202192-31012N/A
12/31/202096-21012N/A
9/30/20209901115N/A
6/30/202010641721N/A
3/31/2020121131824N/A
12/31/201912313N/A25N/A
9/30/201912413N/A26N/A
6/30/201912514N/A25N/A
3/31/201912513N/A27N/A
12/31/201812513N/A26N/A
9/30/201812324N/A5N/A
6/30/201812223N/A5N/A
3/31/201812022N/A4N/A
12/31/201711821N/A5N/A
9/30/201711710N/A27N/A
6/30/201711711N/A30N/A
3/31/201711812N/A28N/A
12/31/201611913N/A29N/A
9/30/201612413N/A30N/A
6/30/201612812N/A28N/A
3/31/201613113N/A28N/A
12/31/20151129N/A29N/A
9/30/201513414N/A24N/A
6/30/201513414N/A26N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SGA is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: SGA is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: SGA is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: SGA's revenue is expected to decline over the next 3 years (-0.07% per year).

High Growth Revenue: SGA's revenue is forecast to decline over the next 3 years (-0.07% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if SGA's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/12 23:24
End of Day Share Price 2026/05/12 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

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Analyst Sources

Saga Communications, Inc. is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Michael KupinskiNOBLE Capital Markets, Inc.
Aaron SyvertsenSidoti & Company, LLC
Marci Walner RyvickerWells Fargo Securities, LLC