Wall Street brokerages forecast that SBA Communications Co. (NASDAQ:SBAC) will report earnings of $1.86 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $1.83 and the highest estimate coming in at $1.88. The company is expected to issue its next quarterly earnings report on Monday, October 29th.
On average, analysts expect that SBA Communications will report full-year earnings of $7.44 per share for the current fiscal year, with EPS estimates ranging from $7.37 to $7.48. For the next year, analysts anticipate that the firm will report earnings of $8.47 per share, with EPS estimates ranging from $8.28 to $8.60. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow SBA Communications.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 30th. The technology company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.68). The company had revenue of $456.30 million for the quarter, compared to analyst estimates of $457.43 million. SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. SBA Communications’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share.
Several brokerages have weighed in on SBAC. BidaskClub raised SBA Communications from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 6th. ValuEngine raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Deutsche Bank increased their price target on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, Macquarie cut their price target on SBA Communications from $166.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. SBA Communications has a consensus rating of “Hold” and an average price target of $179.55.
SBAC traded up $2.53 during midday trading on Thursday, hitting $161.03. 511,500 shares of the company were exchanged, compared to its average volume of 1,002,578. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of -3.18. SBA Communications has a 1-year low of $140.62 and a 1-year high of $177.67.
In other news, Director Brian C. Carr sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total transaction of $124,000.00. Following the sale, the director now directly owns 3,070 shares in the company, valued at approximately $475,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Stoops sold 40,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $154.16, for a total value of $6,166,400.00. Following the sale, the chief executive officer now owns 268,756 shares in the company, valued at $41,431,424.96. The disclosure for this sale can be found here. Insiders have sold a total of 249,945 shares of company stock worth $40,678,663 over the last 90 days. Insiders own 2.70% of the company’s stock.
Several large investors have recently bought and sold shares of SBAC. BlackRock Inc. grew its position in shares of SBA Communications by 19.7% during the 2nd quarter. BlackRock Inc. now owns 9,531,887 shares of the technology company’s stock valued at $1,573,907,000 after acquiring an additional 1,565,872 shares during the period. Canada Pension Plan Investment Board lifted its stake in SBA Communications by 33.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,716,621 shares of the technology company’s stock valued at $283,448,000 after buying an additional 431,539 shares in the last quarter. Millennium Management LLC lifted its stake in SBA Communications by 239.5% in the 1st quarter. Millennium Management LLC now owns 555,676 shares of the technology company’s stock valued at $94,976,000 after buying an additional 391,979 shares in the last quarter. Rivulet Capital LLC lifted its stake in SBA Communications by 122.1% in the 1st quarter. Rivulet Capital LLC now owns 704,400 shares of the technology company’s stock valued at $120,396,000 after buying an additional 387,300 shares in the last quarter. Finally, Meritage Group LP lifted its stake in SBA Communications by 33.6% in the 2nd quarter. Meritage Group LP now owns 1,140,134 shares of the technology company’s stock valued at $188,259,000 after buying an additional 286,793 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
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.
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