SBA Communications (SBAC) to Release Quarterly Earnings on Monday

SBA Communications (NASDAQ:SBAC) will issue its quarterly earnings data after the market closes on Monday, October 28th. Analysts expect the company to announce earnings of $3.17 per share for the quarter. SBA Communications has set its FY24 guidance at $13.06-13.43 EPS and its FY 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 earnings per share. On average, analysts expect SBA Communications to post $13 EPS for the current fiscal year and $12 EPS for the next fiscal year.

SBA Communications Stock Performance

Shares of SBAC opened at $241.79 on Friday. The stock has a fifty day moving average of $236.37 and a two-hundred day moving average of $213.35. The company has a market capitalization of $25.99 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.62%. SBA Communications’s dividend payout ratio (DPR) is presently 82.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Barclays upped their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.58.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,590 shares of company stock valued at $11,483,981. Company insiders own 1.30% of the company’s stock.

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.