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

SBA Communications (NASDAQ:SBAC) will be announcing its earnings results 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.Investors interested in listening to the company’s conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The firm 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 revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.11 EPS. 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 Price Performance

Shares of NASDAQ:SBAC opened at $196.23 on Friday. The company has a market capitalization of $21.21 billion, a P/E ratio of 42.57, a P/E/G ratio of 1.22 and a beta of 0.56. SBA Communications has a 1 year low of $185.23 and a 1 year high of $263.08. The business’s 50 day simple moving average is $210.01 and its 200 day simple moving average is $222.51.

SBA Communications Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBAC. Barclays dropped their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets lowered their target price on 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 SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $268.00.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred 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 transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

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.