SBA Communications (NASDAQ:SBAC – Get Free Report) issued its quarterly earnings data on Monday. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56), Yahoo Finance reports. SBA Communications had a negative return on equity of 9.92% and a net margin of 19.22%. The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period in the previous year, the business earned $3.24 EPS. SBA Communications’s revenue for the quarter was down 2.7% compared to the same quarter last year. SBA Communications updated its FY24 guidance to $13.06-13.43 EPS and its FY 2024 guidance to EPS.
SBA Communications Stock Up 1.3 %
Shares of NASDAQ SBAC traded up $2.74 during midday trading on Wednesday, hitting $220.68. The company had a trading volume of 405,383 shares, compared to its average volume of 951,687. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 43.15, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The business has a 50-day simple moving average of $198.32 and a two-hundred day simple moving average of $206.76.
SBA Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on SBA Communications
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.
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