SBA Communications Co. (SBAC) Expected to Announce Quarterly Sales of $472.26 Million

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

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