SBA Communications (SBAC) Set to Announce Quarterly Earnings on Monday

SBA Communications (NASDAQ:SBAC) is set to release its earnings data 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.Persons that are 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.11 earnings per share. 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 stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.22 and a beta of 0.56. SBA Communications has a 52-week low of $185.23 and a 52-week high of $263.08. The stock’s 50 day moving average price is $210.01 and its two-hundred day moving average price is $222.51.

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 issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio is presently 85.03%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBAC. Barclays cut their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $268.00.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

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.