SBA Communications (SBAC) Scheduled to Post Earnings on Monday

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

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS 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 business had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the prior year, the business earned $3.11 EPS. The business’s quarterly 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 Down 0.9 %

Shares of SBAC stock opened at $196.23 on Friday. SBA Communications has a 52 week low of $185.23 and a 52 week high of $263.08. The stock 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. The firm has a 50 day moving average of $210.01 and a two-hundred day moving average of $222.70.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Transactions at SBA Communications

In other 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 transaction of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SBAC. Barclays decreased their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. 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 report on Tuesday, February 27th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $268.00.

About SBA Communications

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.