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


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SBA Communications (NASDAQ:SBAC) announced its quarterly earnings results on Sunday. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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. During the same period last year, the company posted $0.55 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis.

NASDAQ SBAC opened at $259.70 on Tuesday. SBA Communications has a 52 week low of $205.20 and a 52 week high of $328.37. The stock has a market cap of $28.86 billion, a price-to-earnings ratio of -1,731.22 and a beta of 0.21. The company has a 50-day moving average price of $268.39 and a two-hundred day moving average price of $290.87.

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 $0.58 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.47. This represents a $2.32 annualized dividend and a yield of 0.89%. SBA Communications’s dividend payout ratio is 21.91%.

A number of brokerages recently weighed in on SBAC. Credit Suisse Group decreased their price target on shares of SBA Communications from $291.00 to $277.00 and set a “neutral” rating for the company in a research report on Tuesday. Raymond James decreased their price objective on shares of SBA Communications from $366.00 to $327.00 and set an “outperform” rating for the company in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. cut shares of SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 price objective for the company. in a research report on Monday, February 8th. Barclays upped their price objective on shares of SBA Communications from $305.00 to $310.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Smith Barney Citigroup decreased their price objective on shares of SBA Communications from $350.00 to $336.00 in a research report on Tuesday, November 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $315.93.

About SBA Communications

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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