SBA Communications (NASDAQ:SBAC) Releases Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• SBA Communications reported a quarterly earnings per share of $3.17, exceeding analysts' estimates by $0.07.
• The company's stock price increased by $1.83 on Monday, reaching $230.40, as trading volume surpassed its average.
• Eight analysts rated the stock with a "buy" and the consensus rating is a "Moderate Buy" with an average target price of $257.19.

SBA Communications (NASDAQ:SBAC - Get Free Report) released its earnings results on Monday. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.07, Zacks reports. The firm had revenue of $698.98 million for the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.71% and a net margin of 31.19%. SBA Communications's revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 earnings per share. SBA Communications updated its FY 2025 guidance to EPS.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $2.17 during trading on Wednesday, reaching $221.33. 596,609 shares of the company's stock were exchanged, compared to its average volume of 865,527. SBA Communications has a 1-year low of $192.55 and a 1-year high of $252.64. The company has a market cap of $23.78 billion, a P/E ratio of 28.13, a PEG ratio of 1.91 and a beta of 0.77. The firm's 50-day moving average price is $231.03 and its 200 day moving average price is $223.08.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. SBA Communications's payout ratio is 60.91%.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company's stock valued at $166,000 after purchasing an additional 551 shares in the last quarter. Empowered Funds LLC boosted its position in shares of SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company's stock valued at $449,000 after purchasing an additional 229 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company's stock valued at $712,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBAC. BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Citigroup restated an "outperform" rating on shares of SBA Communications in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research report on Tuesday, May 20th. JMP Securities set a $280.00 price objective on SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price target on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Eight 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $258.25.

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.