It’s a lightly traded issue on Nasdaq. Still, Saga Communications shares are considered to be “near fair value” by analysts, Yahoo! Finance notes.
Is that less than stellar news, as SGA continues to struggle with a recovery from a five-year low?
The answer for long-term shareholders could be a resounding “yes,” as Saga on Monday finished trading at $29, down 3.2%.
Saga Communications, while seeing average volume of just 9,000 shares, has long been one of the more solidly sound issues on Wall Street in the media industry.
But, it’s been a bruising Q2 for the radio industry pure-play, with four days left in the first half of 2019.
Saga started the calendar year at $33.49, rising to $36 per share in the earliest days of January.
Since then, Saga has been lackluster, and fell to $28.60 in late May — a feat nearly matched last week.
One year ago, Saga was roughly $10 a share higher in value.
But, it is the two-year trajectory of SGA that is most disconcerting: In November 2017 SGA was priced at $45.15.
Saga even went ex-dividend on June 13; this failed to stem the slide in value.
With a PE ratio of 12.78 and a forward dividend of 1.20, Saga investors may not hear more fresh news until the first week of August, when the company’s second quarter results are expected.
Until then, market observers may keep a watchful eye on Saga, as its stock sputters toward the Independence Day holiday.