SBA Communications (NASDAQ:SBAC – Get Free Report) announced its earnings results on Monday. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21, RTT News reports. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the prior year, the company earned $3.13 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. SBA Communications updated its FY24 guidance to $13.09-$13.46 EPS and its FY 2024 guidance to EPS.
SBA Communications Price Performance
SBA Communications stock opened at $201.89 on Tuesday. The stock has a market capitalization of $21.83 billion, a P/E ratio of 43.79, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications has a 12-month low of $185.23 and a 12-month high of $263.08. The firm’s 50-day moving average is $209.91 and its two-hundred day moving average is $222.86.
SBA Communications Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.94%. SBA Communications’s payout ratio is 85.03%.
Analyst Ratings Changes
Read Our Latest Report on SBAC
Insider Activity
In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. 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.
Recommended Stories
- Five stocks we like better than SBA Communications
- High Dividend REITs: Are They an Ideal Way to Diversify?
- 3 Trend-Following Entries for Income Investors
- Best Aerospace Stocks Investing
- 3 Stocks Mega Investors Are Buying
- How to invest in blue chip stocks
- Can Disney Stock Triple Before 2030?
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.