SBA Communications Co. (NASDAQ:SBAC) to Issue $0.98 Quarterly Dividend

SBA Communications Co. (NASDAQ:SBACGet Free Report) announced a quarterly dividend on Monday, April 29th, RTT News reports. Shareholders of record on Thursday, May 23rd will be given a dividend of 0.98 per share by the technology company on Wednesday, June 19th. This represents a $3.92 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, May 22nd.

SBA Communications has increased its dividend by an average of 22.3% annually over the last three years and has raised its dividend every year for the last 5 years. SBA Communications has a payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SBA Communications to earn $12.51 per share next year, which means the company should continue to be able to cover its $3.92 annual dividend with an expected future payout ratio of 31.3%.

SBA Communications Stock Performance

SBA Communications stock opened at $198.41 on Tuesday. The firm has a market capitalization of $21.32 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 0.59 and a beta of 0.59. SBA Communications has a one year low of $183.64 and a one year high of $258.76. The stock’s 50 day moving average price is $205.19 and its 200 day moving average price is $222.36.

SBA Communications (NASDAQ:SBACGet Free Report) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.13 earnings per share. On average, analysts forecast that SBA Communications will post 12.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on SBAC shares. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Wells Fargo & Company cut their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. KeyCorp cut their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Barclays reduced their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Finally, BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $252.25.

Get Our Latest Stock Analysis on SBA Communications

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

SBA Communications Company Profile

(Get Free Report)

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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Dividend History for SBA Communications (NASDAQ:SBAC)

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