SBA Communications Corporation (NASDAQ:SBAC) – Analysts at KeyCorp lifted their FY2017 earnings per share estimates for shares of SBA Communications Corporation in a research report issued on Monday. KeyCorp analyst B. Nispel now anticipates that the technology company will post earnings per share of $1.04 for the year, up from their previous forecast of $0.87. KeyCorp has a “Buy” rating and a $170.00 price target on the stock.

Several other equities analysts have also weighed in on SBAC. BidaskClub upgraded SBA Communications Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC lifted their price objective on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating on shares of SBA Communications Corporation in a research note on Wednesday, August 2nd. Cowen and Company reissued a “buy” rating and set a $147.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, October 17th. Finally, Barclays PLC reissued an “overweight” rating and set a $148.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $149.67.

TRADEMARK VIOLATION NOTICE: “SBA Communications Corporation Forecasted to Post FY2017 Earnings of $1.04 Per Share (SBAC)” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/11/02/sba-communications-corporation-forecasted-to-post-fy2017-earnings-of-1-04-per-share-sbac.html. SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) earnings per share.

In other news, EVP Mark R. Ciarfella sold 9,655 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the transaction, the executive vice president now directly owns 21,403 shares of the company’s stock, valued at $3,012,258.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian D. Lazarus sold 7,376 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now directly owns 17,525 shares in the company, valued at $2,660,119.75. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SBAC. D.A. Davidson & CO. increased its holdings in shares of SBA Communications Corporation by 18.8% during 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 during the period. Creative Planning increased its holdings in shares of SBA Communications Corporation by 40.7% during the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares during the period. Acadian Asset Management LLC bought a new position in shares of SBA Communications Corporation during the second quarter worth approximately $159,000. Advisor Group Inc. increased its holdings in shares of SBA Communications Corporation by 9.7% during 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 during the period. Finally, 1ST Source Bank bought a new position in shares of SBA Communications Corporation during the second quarter worth approximately $201,000. 92.54% of the stock is currently owned by institutional investors.

SBA Communications Corporation Company Profile

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.

Earnings History and Estimates for SBA Communications Corporation (NASDAQ:SBAC)

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