Wall Street analysts expect SBA Communications Co. (NASDAQ:SBAC) to post $458.66 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for SBA Communications’ earnings. The highest sales estimate is $463.65 million and the lowest is $455.03 million. SBA Communications reported sales of $427.29 million during the same quarter last year, which indicates a positive year over year growth rate of 7.3%. The company is scheduled to announce its next quarterly earnings results on Monday, July 30th.
On average, analysts expect that SBA Communications will report full year sales of $1.86 billion for the current financial year, with estimates ranging from $1.85 billion to $1.86 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.99 billion per share, with estimates ranging from $1.94 billion to $2.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover SBA Communications.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.07. SBA Communications had a negative return on equity of 4.79% and a net margin of 5.54%. The firm had revenue of $458.30 million during the quarter, compared to analyst estimates of $453.50 million. During the same period last year, the company earned $1.69 EPS. SBA Communications’s quarterly revenue was up 8.2% compared to the same quarter last year.
A number of equities research analysts recently issued reports on SBAC shares. BidaskClub raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, March 16th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Morgan Stanley decreased their price target on SBA Communications from $182.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $175.54.
In other SBA Communications news, EVP Mark R. Ciarfella sold 10,617 shares of SBA Communications stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $160.12, for a total transaction of $1,699,994.04. Following the completion of the sale, the executive vice president now directly owns 20,341 shares of the company’s stock, valued at approximately $3,257,000.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 2,202 shares of SBA Communications stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $157.56, for a total value of $346,947.12. Following the sale, the director now directly owns 12,733 shares of the company’s stock, valued at $2,006,211.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,984 shares of company stock valued at $37,231,290. 2.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SBAC. Bronfman E.L. Rothschild L.P. increased its holdings in shares of SBA Communications by 53.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 936 shares of the technology company’s stock valued at $160,000 after acquiring an additional 327 shares during the period. Bray Capital Advisors purchased a new position in shares of SBA Communications in the 1st quarter valued at $171,000. Element Capital Management LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at $201,000. Parametrica Management Ltd purchased a new position in shares of SBA Communications in the 1st quarter valued at $212,000. Finally, Advisor Partners LLC purchased a new position in shares of SBA Communications in the 1st quarter valued at $213,000. 94.13% of the stock is owned by institutional investors and hedge funds.
Shares of SBAC stock opened at $165.46 on Friday. SBA Communications has a 52-week low of $133.27 and a 52-week high of $177.67. The company has a debt-to-equity ratio of -3.62, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $19.12 billion, a P/E ratio of 174.77, a price-to-earnings-growth ratio of 18.05 and a beta of 0.86.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By ?Building Better Wireless,? SBA generates revenue from two primary businesses ? site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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