SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Monday, July 29th, RTT News reports. Stockholders of record on Wednesday, August 28th will be given a dividend of 0.37 per share by the technology company on Wednesday, September 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Tuesday, August 27th.
SBA Communications has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect SBA Communications to earn $8.95 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 16.5%.
SBAC opened at $260.80 on Friday. SBA Communications has a 12-month low of $146.13 and a 12-month high of $263.91. The business’s fifty day simple moving average is $243.58 and its 200-day simple moving average is $212.92. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 3.33 and a beta of 0.69.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The firm had revenue of $500.10 million for the quarter, compared to the consensus estimate of $489.09 million. During the same period in the previous year, the company posted ($0.50) EPS. SBA Communications’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications will post 7.83 EPS for the current fiscal year.
In related news, SVP Brian D. Lazarus sold 20,676 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $261.00, for a total transaction of $5,396,436.00. Following the sale, the senior vice president now owns 17,829 shares of the company’s stock, valued at $4,653,369. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George R. Krouse, Jr. sold 620 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $258.26, for a total value of $160,121.20. Following the sale, the director now directly owns 10,000 shares in the company, valued at approximately $2,582,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,825 shares of company stock worth $25,054,792. 2.50% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on the company. KeyCorp increased their price target on SBA Communications from $259.00 to $292.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 9th. New Street Research downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $236.00 price target on the stock. in a research report on Thursday, June 13th. JPMorgan Chase & Co. downgraded SBA Communications from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $220.00 to $270.00 in a research report on Thursday, August 1st. Finally, Bank of America reaffirmed a “neutral” rating and set a $260.00 price objective (up previously from $245.00) on shares of SBA Communications in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $230.85.
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. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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