Equities research analysts predict that SBA Communications Co. (NASDAQ:SBAC) will post sales of $472.26 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for SBA Communications’ earnings, with the highest sales estimate coming in at $475.60 million and the lowest estimate coming in at $470.62 million. SBA Communications posted sales of $443.07 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The firm is expected to report its next quarterly earnings report on Monday, February 25th.
On average, analysts expect that SBA Communications will report full year sales of $1.85 billion for the current fiscal year, with estimates ranging from $1.85 billion to $1.86 billion. For the next year, analysts forecast that the firm will post sales of $1.98 billion, with estimates ranging from $1.96 billion to $2.01 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for SBA Communications.
SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 5th. The technology company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($1.64). SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The business had revenue of $467.20 million for the quarter, compared to analyst estimates of $459.17 million. During the same quarter last year, the business earned $1.75 earnings per share. SBA Communications’s revenue was up 7.7% on a year-over-year basis.
Several equities research analysts recently issued reports on SBAC shares. Guggenheim set a $180.00 price objective on SBA Communications and gave the stock a “buy” rating in a report on Wednesday, October 17th. Citigroup lifted their price objective on SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, November 6th. BidaskClub cut SBA Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, August 11th. ValuEngine upgraded SBA Communications from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Macquarie lowered their price objective on SBA Communications from $166.00 to $161.00 and set a “neutral” rating on the stock in a report on Wednesday, August 29th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $180.90.
NASDAQ:SBAC opened at $169.83 on Thursday. SBA Communications has a 52 week low of $146.13 and a 52 week high of $177.67.
In other SBA Communications news, insider Brendan Thomas Cavanagh sold 147,717 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $172.16, for a total value of $25,430,958.72. Following the transaction, the insider now directly owns 81,810 shares of the company’s stock, valued at approximately $14,084,409.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas P. Hunt sold 79,908 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $172.47, for a total transaction of $13,781,732.76. Following the completion of the transaction, the vice president now directly owns 133,652 shares in the company, valued at $23,050,960.44. The disclosure for this sale can be found here. Insiders sold a total of 529,017 shares of company stock worth $90,372,570 over the last three months. Corporate insiders own 2.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Flagship Harbor Advisors LLC purchased a new position in SBA Communications in the 2nd quarter worth approximately $115,000. Virtus Alternative Investment Advisers Inc. purchased a new position in SBA Communications in the 3rd quarter worth approximately $128,000. Quantbot Technologies LP purchased a new position in SBA Communications in the 3rd quarter worth approximately $179,000. Cornerstone Wealth Management LLC purchased a new position in SBA Communications in the 2nd quarter worth approximately $193,000. Finally, HRT Financial LLC purchased a new position in SBA Communications in the 2nd quarter worth approximately $201,000. 94.25% of the stock is currently owned by institutional investors and hedge funds.
About SBA Communications
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.
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