SBA Communications cuts annual revenue outlook on slowing wireless carrier activity [Yahoo! Finance]
SBA Communications Corporation - Class A (SBAC)
Last sba communications corporation - class a earnings: 2/20 04:01 pm
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Source: Yahoo! Finance
Shares of the Boca Raton, Florida-based company fell about 2% in after-market trading. Wireless carriers are navigating an uncertain economy, and sticky inflation has forced them to keep a tight leash on their budgets, hitting demand for companies such as SBA Communications. After the initial rollout of 5G networks, demand for wireless tower operators has been slowing, even as several sites require 5G-related upgrades. "Carrier activity throughout our markets remained measured in response to continued macro-economic financial pressures and the high cost of capital," CEO Brendan Cavanagh said in a statement. The company now expects annual revenue to be between $2.66 billion and $2.70 billion, compared with its prior expectations of between $2.67 billion and $2.71 billion. Analysts, on average, were expecting annual revenue of $2.69 billion, according LSEG data. SBA, which leases space and manages tower sites for wireless carriers including AT&T, T-Mobile US and Verizon Com
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- SBA Communications Co. (NASDAQ: SBAC) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- SBA Communications Co. (NASDAQ: SBAC) had its price target lowered by analysts at Royal Bank of Canada from $250.00 to $235.00. They now have an "outperform" rating on the stock.MarketBeat
- SBA Communications Corporation to Speak at The JP Morgan 52nd Annual Global Technology, Media and Communications ConferenceBusiness Wire
SBAC
Earnings
- 4/29/24 - Miss
SBAC
Sec Filings
- 5/16/24 - Form 144
- 5/7/24 - Form 4
- 5/6/24 - Form 10-Q
- SBAC's page on the SEC website