SBA Communications (NASDAQ:SBAC) Releases Earnings Results, Beats Expectations By $0.42 EPS

SBA Communications (NASDAQ:SBAC) announced its quarterly earnings data on Sunday. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.42, MarketWatch Earnings reports. The firm had revenue of $536.00 million during the quarter, compared to analysts’ expectations of $530.25 million. During the same period in the prior year, the company posted $0.55 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.

Shares of SBAC traded down $11.51 during mid-day trading on Tuesday, hitting $248.19. 26,893 shares of the company’s stock were exchanged, compared to its average volume of 726,411. The company has a market cap of $27.58 billion, a price-to-earnings ratio of -1,715.02 and a beta of 0.21. SBA Communications has a fifty-two week low of $205.20 and a fifty-two week high of $328.37. The stock’s 50-day moving average is $268.39 and its 200-day moving average is $290.87.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 26th. Stockholders of record on Wednesday, March 10th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.93%. This is a boost from SBA Communications’s previous quarterly dividend of $0.47. SBA Communications’s dividend payout ratio is currently 21.91%.

A number of brokerages recently issued reports on SBAC. Credit Suisse Group dropped their price objective on shares of SBA Communications from $291.00 to $277.00 and set a “neutral” rating for the company in a report on Tuesday. Zacks Investment Research raised shares of SBA Communications from a “sell” rating to a “hold” rating and set a $293.00 target price on the stock in a research report on Tuesday, January 5th. Smith Barney Citigroup decreased their target price on shares of SBA Communications from $350.00 to $336.00 in a research report on Tuesday, November 3rd. Morgan Stanley upped their target price on shares of SBA Communications from $309.00 to $316.00 and gave the company an “equal weight” rating in a research report on Friday, December 11th. Finally, Barclays upped their target price on shares of SBA Communications from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $314.64.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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