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

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

Shares of NASDAQ:SBAC traded down $7.10 on Tuesday, hitting $252.60. The company had a trading volume of 15,917 shares, compared to its average volume of 726,411. SBA Communications has a 52-week low of $205.20 and a 52-week high of $328.37. The business has a 50 day moving average of $268.39 and a 200 day moving average of $290.87. The company has a market cap of $28.07 billion, a PE ratio of -1,715.02 and a beta of 0.21.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 26th. Shareholders of record on Wednesday, March 10th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.92%. This is an increase from SBA Communications’s previous quarterly dividend of $0.47. SBA Communications’s payout ratio is presently 21.91%.

Several research analysts have commented on SBAC shares. Barclays lifted their price target on SBA Communications from $305.00 to $310.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 price target on the stock. in a research report on Monday, February 8th. Deutsche Bank Aktiengesellschaft cut their price target on SBA Communications from $335.00 to $325.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James cut their price target on SBA Communications from $327.00 to $309.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating and set a $293.00 target price on the stock in a report on Tuesday, January 5th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. SBA Communications has an average rating of “Buy” and a consensus target price 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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Earnings History for SBA Communications (NASDAQ:SBAC)

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