SBA Communications (NASDAQ:SBAC) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

SBA Communications (NASDAQ:SBAC) posted its quarterly earnings data on Monday. The technology company reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10, FiscalAI reports. The company had revenue of $713.92 million during the quarter, compared to analyst estimates 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 Performance

Shares of SBAC stock traded down $2.29 during mid-day trading on Monday, hitting $184.86. The company’s stock had a trading volume of 1,780,466 shares, compared to its average volume of 1,050,811. SBA Communications has a 52-week low of $156.60 and a 52-week high of $224.46. The business has a 50-day moving average price of $179.41 and a 200 day moving average price of $190.02. The stock has a market cap of $19.61 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.87 and a beta of 0.97.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SBAC shares. Jefferies Financial Group raised SBA Communications to a “hold” rating in a research note on Thursday, October 15th. Citigroup reaffirmed a “market perform” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Raymond James Financial restated an “outperform” rating and set a $271.00 price objective on shares of SBA Communications in a research note on Monday, October 5th. Finally, Morgan Stanley decreased their target price on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Monday, September 21st. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Hold” and an average 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.