SBA Communications Co. (NASDAQ:SBAC) declared a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Thursday, November 21st will be paid 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 0.64%. The ex-dividend date of this dividend is Wednesday, November 20th.
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Shares of NASDAQ:SBAC traded down $0.12 during mid-day trading on Monday, reaching $232.23. 14,054 shares of the company traded hands, compared to its average volume of 563,577. SBA Communications has a 52 week low of $155.19 and a 52 week high of $270.42. The firm has a market cap of $26.77 billion, a PE ratio of 30.61, a PEG ratio of 3.04 and a beta of 0.65. The company’s 50 day moving average price is $237.85 and its 200-day moving average price is $236.22.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by ($1.78). The firm had revenue of $486.60 million for the quarter, compared to analysts’ expectations of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.92 earnings per share. On average, analysts forecast that SBA Communications will post 7.82 EPS for the current year.
In other news, CFO Brendan Thomas Cavanagh sold 54,411 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total value of $14,585,956.77. Following the completion of the transaction, the chief financial officer now directly owns 98,751 shares in the company, valued at $26,472,180.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
A number of research firms have recently issued reports on SBAC. 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. Morgan Stanley increased their price target on SBA Communications from $249.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Friday. 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. Cowen raised their price objective on SBA Communications from $203.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $248.91.
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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