SBA Communications (NASDAQ:SBAC) Issues Quarterly Earnings Results

SBA Communications (NASDAQ:SBAC) posted its earnings results on Monday. The technology company reported $3.47 EPS for the quarter, topping the consensus estimate of $2.08 by $1.39, Zacks reports. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%.

SBA Communications Stock Performance

SBAC stock traded down $0.16 during mid-day trading on Monday, reaching $212.84. The company had a trading volume of 1,171,244 shares, compared to its average volume of 764,356. The firm has a fifty day simple moving average of $202.62 and a 200 day simple moving average of $220.41. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.09%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

Analyst Ratings Changes

SBAC has been the subject of several research reports. Barclays cut their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday. JMP Securities began coverage on shares of SBA Communications in a research note on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company cut their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $252.00.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

About SBA Communications

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.