Wall Street brokerages expect that SBA Communications Co. (NASDAQ:SBAC) will announce sales of $437.52 million for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for SBA Communications’ earnings. The lowest sales estimate is $434.86 million and the highest is $444.19 million. SBA Communications posted sales of $416.51 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The firm is scheduled to announce its next earnings results on Monday, February 26th.
On average, analysts expect that SBA Communications will report full-year sales of $437.52 million for the current financial year. For the next fiscal year, analysts expect that the company will post sales of $1.84 billion per share, with estimates ranging from $1.83 billion to $1.86 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover SBA Communications.
SBA Communications (NASDAQ:SBAC) last issued its earnings results 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. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the sale, the director now owns 11,999 shares in the company, valued at $2,033,950.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in SBAC. Iridian Asset Management LLC CT raised its position in shares of SBA Communications by 88.1% during the 2nd quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after purchasing an additional 1,237,008 shares during the period. PointState Capital LP bought a new position in SBA Communications in the 2nd quarter worth approximately $149,091,000. Victory Capital Management Inc. grew its holdings in SBA Communications by 147,836.3% in the 2nd quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after buying an additional 687,439 shares in the last quarter. American Century Companies Inc. grew its holdings in SBA Communications by 41.4% in the 2nd quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after buying an additional 652,647 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in SBA Communications by 1,343.6% in the 2nd quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after buying an additional 611,497 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
SBA Communications (NASDAQ:SBAC) opened at $165.80 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications has a one year low of $100.31 and a one year high of $173.97. The company has a market capitalization of $19,450.00, a PE ratio of 207.09 and a beta of 0.77.
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About SBA Communications
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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