SBA Communications Co. (NASDAQ:SBAC) Plans Quarterly Dividend of $0.98

SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Sunday, July 28th, RTT News reports. Stockholders of record on Thursday, August 22nd will be paid a dividend of 0.98 per share by the technology company on Wednesday, September 18th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, August 22nd.

SBA Communications has increased its dividend by an average of 22.3% annually over the last three years. SBA Communications has a dividend payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $12.40 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 31.6%.

SBA Communications Stock Up 0.5 %

Shares of NASDAQ SBAC opened at $219.49 on Wednesday. The company’s fifty day moving average is $206.26 and its 200-day moving average is $205.54. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 0.68 and a beta of 0.65. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the business earned $3.24 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that SBA Communications will post 12.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Cowen dropped their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. KeyCorp raised their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets lowered their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.54.

Insider Transactions at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

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.