SBA Communications (NASDAQ:SBAC – Get Free Report) announced its earnings results on Monday. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56), Yahoo Finance reports. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same period last year, the business earned $3.24 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. SBA Communications updated its FY24 guidance to $13.06-13.43 EPS and its FY 2024 guidance to EPS.
SBA Communications Stock Up 1.9 %
Shares of SBA Communications stock traded up $4.17 on Thursday, hitting $223.71. 273,286 shares of the company’s stock traded hands, compared to its average volume of 952,420. The stock has a market cap of $24.04 billion, a P/E ratio of 43.05, a PEG ratio of 0.70 and a beta of 0.65. The firm’s 50-day moving average is $198.84 and its 200 day moving average is $206.84. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76.
SBA Communications Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.
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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.
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