SBA Communications (NASDAQ:SBAC) Releases Earnings Results, Misses Expectations By $0.56 EPS

SBA Communications (NASDAQ:SBAC) posted its earnings results 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 net margin of 19.22% and a negative return on equity of 9.92%. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period in the previous year, the company earned $3.24 EPS. The company’s quarterly revenue 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 Price Performance

Shares of SBAC opened at $217.94 on Wednesday. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76. The stock has a market cap of $23.42 billion, a PE ratio of 42.73, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The firm has a fifty day moving average price of $198.32 and a 200 day moving average price of $206.76.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. Barclays decreased their price objective on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup dropped their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. TD Cowen decreased their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp increased their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $246.54.

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.