SBA Communications (SBAC) to Release Earnings on Monday

SBA Communications (NASDAQ:SBAC) is set to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect SBA Communications to post earnings of $3.12 per share for the quarter. SBA Communications has set its FY24 guidance at $13.15-$13.51 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same period in the prior year, the firm posted $3.11 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect SBA Communications to post $13 EPS for the current fiscal year and $13 EPS for the next fiscal year.

SBA Communications Stock Performance

SBA Communications stock opened at $196.23 on Friday. The company has a 50 day moving average price of $210.01 and a 200-day moving average price of $222.70. SBA Communications has a fifty-two week low of $185.23 and a fifty-two week high of $263.08. The company has a market capitalization of $21.21 billion, a PE ratio of 42.57, a P/E/G ratio of 1.22 and a beta of 0.56.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s payout ratio is currently 85.03%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Barclays cut their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $268.00.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.