SBA Communications (NASDAQ:SBAC) Issues Quarterly Earnings Results

SBA Communications (NASDAQ:SBAC) posted its earnings results on Sunday. The technology company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.42, MarketWatch Earnings reports. The business had revenue of $536.00 million for the quarter, compared to the consensus estimate of $530.25 million. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share.

Shares of SBAC traded down $6.70 during mid-day trading on Tuesday, reaching $253.00. The company’s stock had a trading volume of 18,867 shares, compared to its average volume of 726,411. SBA Communications has a 1-year low of $205.20 and a 1-year high of $328.37. The business has a 50-day simple moving average of $268.39 and a two-hundred day simple moving average of $290.87. The stock has a market cap of $28.11 billion, a P/E ratio of -1,715.02 and a beta of 0.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Wednesday, March 10th will be paid a $0.58 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.47. This represents a $2.32 annualized dividend and a yield of 0.92%. SBA Communications’s dividend payout ratio is currently 21.91%.

SBAC has been the topic of a number of research reports. Raymond James cut their price target on SBA Communications from $327.00 to $309.00 and set an “outperform” rating on the stock in a report on Tuesday. Smith Barney Citigroup cut their price target on SBA Communications from $350.00 to $336.00 in a report on Tuesday, November 3rd. Credit Suisse Group cut their price target on SBA Communications from $291.00 to $277.00 and set a “neutral” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 price target on the stock. in a report on Monday, February 8th. Finally, Wells Fargo & Company cut their price target on SBA Communications from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, December 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $314.64.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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