SBA Communications Co. (SBAC) to Post Q2 2018 Earnings of $0.38 Per Share, SunTrust Banks Forecasts
SBA Communications Co. (NASDAQ:SBAC) – SunTrust Banks boosted their Q2 2018 earnings estimates for shares of SBA Communications in a report issued on Wednesday. SunTrust Banks analyst G. Miller now expects that the technology company will post earnings per share of $0.38 for the quarter, up from their previous estimate of $0.35. SunTrust Banks also issued estimates for SBA Communications’ Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.57 EPS and Q3 2019 earnings at $0.61 EPS.
SBAC has been the subject of several other reports. KeyCorp reissued a “buy” rating and set a $179.00 price objective (up from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. Royal Bank Of Canada restated a “buy” rating and issued a $200.00 price target on shares of SBA Communications in a research report on Thursday, November 30th. BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. UBS initiated coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $159.00 price target (up from $147.00) on shares of SBA Communications in a research report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $159.40.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The company had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the sale, the director now directly owns 11,999 shares in the company, valued at approximately $2,033,950.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.
Large investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its position in SBA Communications by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after purchasing an additional 129 shares during the last quarter. State Treasurer State of Michigan bought a new stake in SBA Communications in the 3rd quarter valued at about $5,258,000. Oakbrook Investments LLC bought a new stake in SBA Communications in the 3rd quarter valued at about $828,000. SG Americas Securities LLC lifted its position in SBA Communications by 160.5% in the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after purchasing an additional 7,781 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. bought a new stake in shares of SBA Communications during the 2nd quarter worth about $3,475,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
SBA Communications 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.
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