SBA Communications Corporation (SBAC) to Issue Quarterly Dividend of $1.25 on December 10th

SBA Communications Corporation (NASDAQ:SBAC) announced a quarterly dividend on Sunday, November 1st. Shareholders of record on Thursday, November 12th will be given a dividend of $1.25 per share by the technology company on Thursday, December 10th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, November 12th.

SBA Communications has increased its dividend by an average of 0.2% per year over the last three years and has raised its dividend every year for the last 6 years. SBA Communications has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $11.46 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 43.6%.

SBA Communications Stock Up 0.5%

Shares of SBA Communications stock opened at $190.35 on Tuesday. SBA Communications has a fifty-two week low of $156.60 and a fifty-two week high of $224.46. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The business has a fifty day simple moving average of $179.79 and a 200-day simple moving average of $190.02.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10. SBA Communications had a net margin of 34.54% and a negative return on equity of 20.67%. The company had revenue of $713.92 million during the quarter, compared to analyst estimates of $724.07 million. During the same period in the prior year, the firm earned $3.30 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Analysts anticipate that SBA Communications will post 11.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBAC shares. Jefferies Financial Group raised SBA Communications to a “hold” rating in a research note on Thursday, October 15th. Wolfe Research upgraded shares of SBA Communications from a “hold” rating to an “outperform” rating in a research note on Tuesday, August 4th. TD Cowen lifted their target price on shares of SBA Communications from $229.00 to $239.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. JPMorgan Chase & Co. decreased their target price on shares of SBA Communications from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Tuesday, November 3rd. Finally, Raymond James Financial restated an “outperform” rating and set a $271.00 price target on shares of SBA Communications in a research note on Monday, October 5th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.64.

SBA Communications Company Profile