Zacks: Brokerages Anticipate SBA Communications Corporation (SBAC) to Post $0.25 Earnings Per Share
Wall Street analysts forecast that SBA Communications Corporation (NASDAQ:SBAC) will post earnings per share of $0.25 for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for SBA Communications Corporation’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.37. SBA Communications Corporation reported earnings of ($0.12) per share during the same quarter last year, which indicates a positive year over year growth rate of 308.3%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that SBA Communications Corporation will report full-year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.84 to $0.94. For the next fiscal year, analysts anticipate that the company will report earnings of $1.48 per share, with EPS estimates ranging from $1.10 to $1.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for SBA Communications Corporation.
SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The firm had revenue of $427.30 million for the quarter, compared to the consensus estimate of $426.10 million. During the same quarter last year, the business earned $1.48 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.
Several analysts have recently weighed in on the company. Zacks Investment Research raised SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price objective on the stock in a report on Thursday, July 20th. Citigroup Inc. lifted their price objective on SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. Deutsche Bank AG reissued a “hold” rating and set a $150.00 price objective (up previously from $133.00) on shares of SBA Communications Corporation in a report on Friday, July 14th. BidaskClub lowered SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of SBA Communications Corporation in a report on Monday, June 12th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $144.43.
In related news, Director George R. Krouse, Jr. sold 1,643 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $138.63, for a total value of $227,769.09. Following the sale, the director now owns 11,643 shares of the company’s stock, valued at approximately $1,614,069.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $151.79, for a total value of $1,119,603.04. Following the completion of the sale, the senior vice president now directly owns 17,525 shares in the company, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,674 shares of company stock worth $2,706,217. 2.10% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. boosted its stake in SBA Communications Corporation by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after purchasing an additional 120 shares in the last quarter. Creative Planning boosted its stake in SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares in the last quarter. Acadian Asset Management LLC acquired a new position in SBA Communications Corporation in the second quarter worth $159,000. Van ECK Associates Corp boosted its stake in SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after purchasing an additional 177 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in SBA Communications Corporation by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after purchasing an additional 114 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.
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Shares of SBA Communications Corporation (SBAC) traded down 0.80% during trading on Friday, reaching $149.45. The company had a trading volume of 857,506 shares. SBA Communications Corporation has a 12 month low of $95.66 and a 12 month high of $154.71. The stock has a 50 day moving average price of $143.23 and a 200 day moving average price of $130.91. The firm has a market capitalization of $17.99 billion, a PE ratio of 498.17 and a beta of 0.71.
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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