SBA Communications (NASDAQ:SBAC – Get Free Report) released its quarterly earnings data on Monday. The technology company reported $1.51 earnings per share 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 for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the previous year, the business posted $3.24 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. SBA Communications updated its FY24 guidance to $13.06-13.43 EPS and its FY 2024 guidance to EPS.
SBA Communications Trading Up 1.0 %
SBAC stock traded up $2.15 during midday trading on Wednesday, reaching $220.09. The stock had a trading volume of 333,506 shares, compared to its average volume of 951,195. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76. The company’s fifty day simple moving average is $198.32 and its 200 day simple moving average is $206.76. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 42.73, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.
SBA Communications Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend 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 SBAC
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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