SBA Communications Corporation Announces Quarterly Dividend of $1.11 (NASDAQ:SBAC)

Key Points

• SBA Communications Corporation announced a quarterly dividend of $1.11 per share, with a yield of 1.9% and a payout ratio of 48.2% based on its earnings.
• The company's stock currently has a market capitalization of $24.76 billion, with a recent trading price of $230.40, reflecting a 12-month high of $252.64.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $257.19 following recent adjustments by various financial firms.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) declared a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 1.11 per share by the technology company on Thursday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%.

SBA Communications has a dividend payout ratio of 48.2% meaning its dividend is sufficiently covered by earnings. Analysts expect SBA Communications to earn $12.22 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 36.3%.

SBA Communications Stock Performance

Shares of SBAC stock traded up $1.83 on Monday, reaching $230.40. 944,566 shares of the company's stock traded hands, compared to its average volume of 858,588. The company has a market capitalization of $24.76 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.77. SBA Communications has a 12-month low of $192.55 and a 12-month high of $252.64. The business's 50 day moving average price is $231.25 and its two-hundred day moving average price is $222.92.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a negative return on equity of 15.30% and a net margin of 29.29%. Research analysts predict that SBA Communications will post 12.57 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SBAC shares. UBS Group upped their price objective on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Scotiabank began coverage on shares of SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price on the stock. Wall Street Zen downgraded shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research note on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and an average target price of $257.19.

SBA Communications Company Profile

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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