Equities analysts expect SBA Communications Co. (NASDAQ:SBAC) to report earnings per share (EPS) of $2.03 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $1.98 and the highest estimate coming in at $2.07. SBA Communications reported earnings per share of $1.83 in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.9%. The business is scheduled to announce its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that SBA Communications will report full year earnings of $8.33 per share for the current financial year, with EPS estimates ranging from $8.19 to $8.44. For the next fiscal year, analysts forecast that the company will post earnings of $9.19 per share, with EPS estimates ranging from $8.88 to $9.52. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow SBA Communications.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The business had revenue of $493.29 million during the quarter, compared to analyst estimates of $481.06 million. During the same quarter in the prior year, the company posted $1.85 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis.
A number of research analysts have commented on SBAC shares. KeyCorp upped their price target on SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. BidaskClub cut SBA Communications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Guggenheim cut SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research note on Friday, February 22nd. Finally, Morgan Stanley upped their price target on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications currently has a consensus rating of “Buy” and a consensus price target of $197.56.
NASDAQ:SBAC traded up $2.27 during trading hours on Tuesday, reaching $205.50. 683,533 shares of the stock were exchanged, compared to its average volume of 669,114. SBA Communications has a twelve month low of $146.13 and a twelve month high of $214.93. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 2.71 and a beta of 0.82.
In other news, EVP Kurt L. Bagwell sold 92,154 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $181.89, for a total transaction of $16,761,891.06. Following the sale, the executive vice president now owns 82,878 shares of the company’s stock, valued at $15,074,679.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jason V. Silberstein sold 51,369 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $190.71, for a total value of $9,796,581.99. Following the sale, the executive vice president now directly owns 60,154 shares in the company, valued at approximately $11,471,969.34. The disclosure for this sale can be found here. Insiders have sold 255,916 shares of company stock worth $47,405,473 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in SBA Communications in the fourth quarter valued at $138,480,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in SBA Communications in the fourth quarter valued at $363,000. Flinton Capital Management LLC increased its holdings in SBA Communications by 11.7% in the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the technology company’s stock valued at $1,001,000 after buying an additional 646 shares during the last quarter. RFG Advisory LLC purchased a new position in SBA Communications in the fourth quarter valued at $522,000. Finally, First Bank & Trust increased its holdings in SBA Communications by 1.8% in the fourth quarter. First Bank & Trust now owns 5,361 shares of the technology company’s stock valued at $868,000 after buying an additional 93 shares during the last quarter. 94.69% of the stock is currently owned by institutional investors and hedge funds.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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