SBA Communications (SBAC) Set to Announce Earnings on Monday

SBA Communications (NASDAQ:SBAC) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, July 29th. Analysts expect the company to announce earnings of $3.12 per share for the quarter. SBA Communications has set its FY24 guidance at $13.09-$13.46 EPS and its FY 2024 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.13 EPS. On average, analysts expect SBA Communications to post $13 EPS for the current fiscal year and $12 EPS for the next fiscal year.

SBA Communications Stock Up 1.7 %

Shares of SBA Communications stock opened at $214.71 on Friday. The firm has a market cap of $23.07 billion, a PE ratio of 42.10, a price-to-earnings-growth ratio of 0.67 and a beta of 0.65. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The company’s fifty day simple moving average is $197.54 and its two-hundred day simple moving average is $207.31.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.83%. SBA Communications’s dividend payout ratio is 76.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Barclays dropped their target price on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price target for the company. Finally, TD Cowen lowered their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.31.

SBA Communications Company Profile

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.