SBA Communications (NASDAQ:SBAC) Announces Earnings Results

Key Points

• SBA Communications exceeded earnings expectations, reporting quarterly EPS of $2.19 versus the $2.09 consensus estimate. Revenue totaled $713.92 million, below analyst expectations of $724.07 million.
• The stock fell 1.2% to $184.86 following the results. SBA Communications has a $19.61 billion market capitalization and trades below its 200-day moving average of $190.02.
• Analyst sentiment remains mixed, with eight Buy ratings and ten Hold ratings producing an overall “Hold” consensus and an average price target of $226.53.

SBA Communications (NASDAQ:SBAC - Get Free Report) issued its earnings results on Monday. The technology company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.10, FiscalAI reports. The business had revenue of $713.92 million for the quarter, compared to analysts' expectations of $724.07 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.

SBA Communications Stock Down 1.2%

NASDAQ:SBAC traded down $2.29 on Monday, reaching $184.86. 1,780,404 shares of the company's stock were exchanged, compared to its average volume of 1,050,803. The business has a fifty day moving average of $179.41 and a 200-day moving average of $190.02. SBA Communications has a 52-week low of $156.60 and a 52-week high of $224.46. The firm has a market capitalization of $19.61 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at $1,554,887.04. This represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SBAC shares. Citigroup reiterated a "market perform" rating on shares of SBA Communications in a research report on Tuesday, August 4th. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $245.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Wolfe Research raised shares of SBA Communications from a "hold" rating to an "outperform" rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of SBA Communications from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 15th. Finally, Sanford C. Bernstein dropped their price target on shares of SBA Communications from $219.00 to $208.00 and set a "market perform" rating for the company in a research note on Tuesday, October 20th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications has an average rating of "Hold" and a consensus target price of $226.53.

SBA Communications Company Profile

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company's portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.

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