SBA Communications (SBAC) to Release Quarterly Earnings on Monday

SBA Communications (NASDAQ:SBAC) will be posting its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect SBA Communications to post 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.Investors interested in registering for the company’s conference call can do so using this link.

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 the consensus estimate 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 firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. During the same period in the previous year, the firm earned $3.24 EPS. The business’s revenue was down 2.7% on a year-over-year basis. 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

SBAC stock opened at $247.47 on Monday. The company has a market cap of $26.59 billion, a price-to-earnings ratio of 48.52, a P/E/G ratio of 0.72 and a beta of 0.67. The business’s 50-day moving average is $234.22 and its two-hundred day moving average is $212.50. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.58%. SBA Communications’s dividend payout ratio is currently 76.86%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SBAC shares. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. TD Cowen cut their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, KeyCorp raised their target price on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $251.58.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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. This trade represents 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. Insiders own 1.30% of the company’s stock.

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.