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Saga Communications
(NASDAQ:SGA)
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Rating:47Neutral
Price Target:
$8.50
▼(-6.90% Downside)
Action:Reiterated
Date:09/11/26
The score is held down primarily by weakening fundamentals (declining revenue and current losses) and bearish technicals (price below key moving averages with negative MACD). Offsetting factors include a conservative balance sheet with continued positive (though weakening) cash generation, plus constructive earnings-call signals around rapid digital growth and cost control, while the high dividend yield adds valuation support but carries sustainability risk given losses.
Positive Factors
Rapid digital revenue growth
Strong digital growth is expanding Saga’s revenue mix beyond traditional broadcast advertising and demonstrates progress in its transformation strategy. A larger digital contribution can improve monetization per advertiser, diversify offerings, and support medium-term resilience as audience and ad-buying habits evolve.
Negative Factors
Broad revenue contraction
The decline is broad rather than isolated to one reporting period or product, weakening the revenue base that supports Saga’s station portfolio. Continued contraction in core advertising reduces operating leverage, limits reinvestment capacity, and makes the digital transition more important to restoring durable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid digital revenue growth
Strong digital growth is expanding Saga’s revenue mix beyond traditional broadcast advertising and demonstrates progress in its transformation strategy. A larger digital contribution can improve monetization per advertiser, diversify offerings, and support medium-term resilience as audience and ad-buying habits evolve.
Read all positive factors
Saga Communications (SGA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$52.64M
Dividend Yield12.14%
Average Volume (3M)14.12K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-5.31%
EPS Growth-514.49%
CountryUS
Employees680
SectorCommunication Services
Sector Strength97
IndustryBroadcasting
Share Statistics
EPS (TTM)-1.46
Shares Outstanding6,357,988
10 Day Avg. Volume13,225
30 Day Avg. Volume14,122
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.47
Price to Sales (P/S)0.66
P/FCF Ratio29.07
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)-0.52
Revenue Forecast (FY)$104.50M
Saga Communications Business Overview & Revenue Model
Company Description
Saga Communications, Inc. operates as a broadcasting firm, concentrating on the acquisition, development, and management of media assets throughout the United States. Its diverse network of radio stations presents a broad spectrum of programming, ...
How the Company Makes Money
Saga Communications primarily makes money by selling advertising and marketing services tied to its radio station operations. The largest revenue stream is typically broadcast advertising: the company sells on-air commercial spots and sponsorships...
Saga Communications Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: meaningful and accelerating progress on the company’s digital transformation (very strong blended digital growth, strategic hires, partnerships, AI tools, and growing political bookings) and disciplined corporate cost control, offset by continued revenue pressure in core traditional advertising verticals (double-digit declines in local, national and nontraditional), rising station operating expenses tied to transformation and one-time tower transaction effects, and modest operating income. Management highlighted tangible operational and strategic advances that should support medium-term recovery, but near-term pacing remains soft.Positive Updates
Blended Digital Revenue Strong Growth
Blended digital (search, display, SEO, social, managed email, OTT/CTV) grew 76.4% year-to-date and 60.8% for the quarter; digital as a percentage of gross revenue increased to 19% for the 6 months ended June 30, 2026 from 14% a year earlier.
Negative Updates
Overall Revenue Decline
Net revenue decreased $1.8M or 6.5% to $26.4M for the quarter and decreased $3.2M or 6.0% to $49.3M for the 6 months ended June 30, 2026.
Read all updates
Q2-2026 Updates
Positive
Negative
Blended Digital Revenue Strong Growth
Blended digital (search, display, SEO, social, managed email, OTT/CTV) grew 76.4% year-to-date and 60.8% for the quarter; digital as a percentage of gross revenue increased to 19% for the 6 months ended June 30, 2026 from 14% a year earlier.
Read all positive updates
Company Guidance
Management guided that station operating expense is expected to increase about 1.5–2.5% for 2026 (including digital buildout and noncash tower rent), corporate G&A is forecast at roughly $11.8–$12.0M (down from $12.3M), and capital expenditures are expected to be ~$3.0–$3.5M for the year. They reported Q2 net revenue of $26.4M (down $1.8M or 6.5%), six‑month net revenue of $49.3M (down $3.2M or 6%), Q2 station operating income of $3.0M and operating income of $0.623M, Q2 station op expense up $1.2M (5.4%; 3.9% ex noncash rent) and up $1.3M (2.8%; 1.9% ex rent) for six months. For Q3 pacing they expect mid‑single digit declines overall with digital up mid‑to‑high single digits (digital was up 76.4% YTD and 60.8% for the quarter, and equals 19% of gross vs 14% LY); political gross was $450k in Q2 ($725k YTD) with another $1.1M sold for the remainder of the year. Balance sheet and liquidity commentary included $27.8M cash/short‑term investments at 6/30 ($22.9M as of 8/10 after repaying a $5M revolver), $10.5M cash from the tower sale, >$4M from six noncore property disposals, and the impact of recent hires (9 sales managers adding ~$146k and digital hires adding $211k to Q2 station op expense) as the company focuses on executing and monetizing its blended radio/digital strategy.Saga Communications Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 103.94M | 107.11M | 112.92M | 112.77M | 114.89M | 108.34M |
| Gross Profit | 29.51M | 10.15M | 16.01M | 22.57M | 27.36M | 25.10M |
| EBITDA | -7.61M | -4.86M | 10.20M | 18.10M | 19.30M | 21.45M |
| Net Income | -8.89M | -7.90M | 3.46M | 9.50M | 9.20M | 11.16M |
Balance Sheet | ||||||
| Total Assets | 196.81M | 201.32M | 221.72M | 232.21M | 240.75M | 247.93M |
| Cash, Cash Equivalents and Short-Term Investments | 27.84M | 31.81M | 27.79M | 40.18M | 46.92M | 54.76M |
| Total Debt | 5.00M | 5.00M | 12.27M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 48.58M | 49.84M | 55.80M | 61.66M | 62.22M | 51.01M |
| Stockholders Equity | 148.23M | 151.48M | 165.92M | 170.55M | 178.53M | 196.92M |
Cash Flow | ||||||
| Free Cash Flow | -1.26M | 2.42M | 4.29M | 11.02M | 11.07M | 14.98M |
| Operating Cash Flow | 2.07M | 5.46M | 13.77M | 15.38M | 17.13M | 19.10M |
| Investing Cash Flow | 9.46M | 7.15M | -6.68M | -2.50M | -14.99M | -3.35M |
| Financing Cash Flow | -8.94M | -8.97M | -17.81M | -20.10M | -20.09M | -12.35M |
Saga Communications Technical Analysis
Negative
9.13
Price Trends
8.83
Negative
8.89
Negative
9.83
Negative
Market Momentum
-0.13
Positive
37.67
Neutral
6.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SGA, the sentiment is Negative. The current price of 9.13 is above the 20-day moving average (MA) of 8.68, above the 50-day MA of 8.83, and below the 200-day MA of 9.83, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 37.67 is Neutral, neither overbought nor oversold. The STOCH value of 6.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SGA.
Saga Communications Risk Analysis
Saga Communications disclosed 2 risk factors in its most recent earnings report. Saga Communications reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Saga Communications Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $677.40M | 183.75 | 6.98% | 2.72% | 71.38% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
47 Neutral | $52.64M | -5.90 | -5.83% | 12.14% | -5.31% | -514.49% | |
46 Neutral | $17.16M | -0.28 | -188.80% | ― | -13.97% | 56.23% | |
45 Neutral | $241.87M | -0.19 | -127.81% | 1.42% | -14.18% | -2948.71% | |
44 Neutral | $26.29M | -0.12 | -903.00% | 0.52% | -16.12% | -1061.96% | |
44 Neutral | $91.12M | -1.27 | -138.17% | ― | 14.33% | -319.43% |
* Communication Services Sector Average
SGA
Saga Communications
8.24
-3.60
-30.39%
BBGI
Beasley Broadcast Group
12.85
7.62
145.70%
SSP
E. W. Scripps Company Class A
2.60
0.05
1.96%
EVC
Entravision
7.35
5.22
244.59%
UONE
Urban One
4.04
-9.46
-70.07%
MDIA
Mediaco Holding
1.04
-0.22
-17.46%
Saga Communications Corporate Events
Business Operations and StrategyDividends
Saga Communications Announces Quarterly Cash Dividend Program
Positive
Sep 10, 2026
On September 10, 2026, Saga Communications announced that its board declared a quarterly cash dividend of $0.25 per share on its Class A common stock, payable October 16, 2026, to shareholders of record as of September 23, 2026. The approximately ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.