Wall Street brokerages forecast that SBA Communications Corporation (NASDAQ:SBAC) will report earnings of $0.20 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for SBA Communications Corporation’s earnings, with estimates ranging from $0.14 to $0.25. SBA Communications Corporation reported earnings of $0.10 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 100%. The firm is scheduled to issue its next earnings report on Thursday, July 27th.

On average, analysts expect that SBA Communications Corporation will report full year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.83 to $1.13. For the next year, analysts forecast that the business will report earnings of $1.68 per share, with EPS estimates ranging from $1.36 to $2.35. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover SBA Communications Corporation.

SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, May 1st. The technology company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.21 by $1.48. The company had revenue of $423.40 million during the quarter, compared to analyst estimates of $418.21 million. SBA Communications Corporation had a negative return on equity of 2.23% and a net margin of 3.69%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS.

A number of brokerages have recently issued reports on SBAC. Raymond James Financial, Inc. reissued an “outperform” rating on shares of SBA Communications Corporation in a report on Monday, June 12th. BidaskClub lowered SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research lowered SBA Communications Corporation from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 4th. Citigroup Inc. lowered SBA Communications Corporation to an “outperform” rating and set a $153.00 price target on the stock. in a research report on Monday, June 12th. Finally, Guggenheim upgraded SBA Communications Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $118.00 to $137.00 in a research report on Monday, April 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $135.29.

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In other SBA Communications Corporation news, CEO Jeffrey Stoops sold 94,289 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $133.76, for a total value of $12,612,096.64. Following the transaction, the chief executive officer now directly owns 329,124 shares in the company, valued at approximately $44,023,626.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 187 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $138.43, for a total value of $25,886.41. Following the completion of the transaction, the director now owns 10,896 shares in the company, valued at $1,508,333.28. The disclosure for this sale can be found here. Insiders sold a total of 171,028 shares of company stock worth $22,956,475 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of SBA Communications Corporation by 2,233.0% in the first quarter. BlackRock Inc. now owns 8,450,685 shares of the technology company’s stock worth $1,017,210,000 after buying an additional 8,088,459 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of SBA Communications Corporation by 1.1% in the first quarter. Principal Financial Group Inc. now owns 5,644,327 shares of the technology company’s stock worth $679,407,000 after buying an additional 60,436 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of SBA Communications Corporation by 4.3% in the first quarter. William Blair Investment Management LLC now owns 2,466,382 shares of the technology company’s stock worth $296,878,000 after buying an additional 101,156 shares during the last quarter. American Century Companies Inc. raised its position in shares of SBA Communications Corporation by 30.0% in the first quarter. American Century Companies Inc. now owns 1,578,092 shares of the technology company’s stock worth $189,955,000 after buying an additional 363,969 shares during the last quarter. Finally, Iridian Asset Management LLC CT purchased a new position in shares of SBA Communications Corporation during the first quarter worth approximately $169,022,000. Hedge funds and other institutional investors own 96.17% of the company’s stock.

Shares of SBA Communications Corporation (NASDAQ:SBAC) traded down 0.154% on Monday, hitting $132.845. The stock had a trading volume of 627,627 shares. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $140.38. The stock has a market cap of $16.11 billion, a P/E ratio of 275.612 and a beta of 0.77. The firm’s 50-day moving average is $132.66 and its 200 day moving average is $116.20.

About SBA Communications Corporation

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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