SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders of record on Thursday, November 21st will be given a dividend of 0.37 per share by the technology company on Thursday, December 19th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Wednesday, November 20th.
Shares of NASDAQ SBAC traded up $0.64 during mid-day trading on Monday, reaching $237.90. The company’s stock had a trading volume of 2,731 shares, compared to its average volume of 624,935. The firm has a market capitalization of $26.46 billion, a PE ratio of 31.30, a P/E/G ratio of 3.01 and a beta of 0.65. The stock has a fifty day moving average of $237.98 and a two-hundred day moving average of $235.01. SBA Communications has a 52 week low of $155.19 and a 52 week high of $270.42.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.78). The business had revenue of $486.60 million during the quarter, compared to the consensus estimate of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. As a group, equities research analysts anticipate that SBA Communications will post 7.81 EPS for the current fiscal year.
SBAC has been the subject of a number of recent analyst reports. Morgan Stanley lowered SBA Communications from an “overweight” rating to an “equal” rating and upped their price objective for the stock from $222.00 to $249.00 in a research note on Thursday, September 19th. BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a research note on Saturday. Bank of America reaffirmed a “neutral” rating and issued a $260.00 price objective (up previously from $245.00) on shares of SBA Communications in a research note on Wednesday, August 14th. SunTrust Banks upped their price objective on SBA Communications to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, KeyCorp upped their price objective on SBA Communications from $259.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $248.73.
In related news, Director Jack Langer sold 5,301 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $261.91, for a total transaction of $1,388,384.91. Following the completion of the transaction, the director now directly owns 50 shares of the company’s stock, valued at $13,095.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brendan Thomas Cavanagh sold 54,411 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $268.07, for a total value of $14,585,956.77. Following the transaction, the chief financial officer now directly owns 98,751 shares of the company’s stock, valued at $26,472,180.57. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
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. 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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