SBA Communications (NASDAQ:SBAC) Issues Earnings Results, Beats Estimates By $0.10 EPS

SBA Communications (NASDAQ:SBAC) posted its quarterly earnings results on Monday. The technology company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.09 by $0.10, FiscalAI reports. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The company had revenue of $713.92 million during the quarter, compared to analysts’ expectations of $724.07 million.

SBA Communications Stock Performance

NASDAQ SBAC traded down $2.29 during trading hours on Monday, hitting $184.86. The company had a trading volume of 1,780,404 shares, compared to its average volume of 1,050,803. SBA Communications has a 1-year low of $156.60 and a 1-year high of $224.46. The company has a market cap of $19.61 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The business has a 50 day moving average of $179.41 and a 200-day moving average of $190.02.

Insider Activity at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBAC shares. JPMorgan Chase & Co. decreased their price objective on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Barclays cut their price target on SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. UBS Group lowered SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. BMO Capital Markets restated a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Finally, Jefferies Financial Group raised SBA Communications to a “hold” rating in a report on Thursday, October 15th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $226.53.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.