SBA Communications (SBAC) Set to Announce Quarterly Earnings on Monday

SBA Communications (NASDAQ:SBAC) is scheduled to post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect SBA Communications to post earnings of $3.12 per share for the quarter. SBA Communications has set its FY24 guidance at $13.15-$13.51 EPS.Parties that wish to register for the company’s conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the prior year, the business earned $3.11 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts expect SBA Communications to post $13 EPS for the current fiscal year and $13 EPS for the next fiscal year.

SBA Communications Trading Up 0.1 %

NASDAQ:SBAC opened at $196.06 on Monday. SBA Communications has a twelve month low of $185.23 and a twelve month high of $264.06. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56. The stock has a fifty day simple moving average of $211.29 and a 200-day simple moving average of $222.75.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SBAC shares. Barclays decreased their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $268.00.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Raymond James Trust N.A. increased its position in shares of SBA Communications by 19.0% during the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after purchasing an additional 307 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of SBA Communications by 19.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after purchasing an additional 489 shares during the period. Prudential PLC purchased a new position in shares of SBA Communications during the 1st quarter worth $568,000. Sequoia Financial Advisors LLC purchased a new position in shares of SBA Communications during the 1st quarter worth $234,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of SBA Communications by 157.6% during the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after purchasing an additional 197 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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.