Zacks: Brokerages Expect SBA Communications Co. (SBAC) Will Announce Earnings of $1.91 Per Share

Analysts forecast that SBA Communications Co. (NASDAQ:SBAC) will report earnings of $1.91 per share for the current quarter, Zacks reports. Five analysts have made estimates for SBA Communications’ earnings. The lowest EPS estimate is $1.90 and the highest is $1.94. The firm is scheduled to announce its next earnings report on Monday, February 25th.

On average, analysts expect that SBA Communications will report full-year earnings of $7.51 per share for the current fiscal year, with EPS estimates ranging from $7.49 to $7.54. For the next financial year, analysts forecast that the firm will post earnings of $8.39 per share, with EPS estimates ranging from $8.23 to $8.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow SBA Communications.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 5th. The technology company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($1.64). The company had revenue of $467.20 million during the quarter, compared to the consensus estimate of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm posted $1.75 EPS.

SBAC has been the topic of a number of research reports. Citigroup raised shares of SBA Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $175.00 to $187.00 in a report on Wednesday, October 31st. BidaskClub cut shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Bank of America set a $189.00 price target on shares of SBA Communications and gave the stock a “buy” rating in a report on Thursday, November 15th. ValuEngine cut shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, Guggenheim set a $180.00 price target on shares of SBA Communications and gave the stock a “buy” rating in a report on Wednesday, October 17th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. SBA Communications has an average rating of “Buy” and a consensus price target of $180.90.

NASDAQ:SBAC opened at $171.51 on Tuesday. SBA Communications has a 12 month low of $146.13 and a 12 month high of $177.67.

In other SBA Communications news, CEO Jeffrey Stoops sold 40,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $160.05, for a total transaction of $6,402,000.00. Following the sale, the chief executive officer now owns 252,180 shares of the company’s stock, valued at approximately $40,361,409. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brendan Thomas Cavanagh sold 147,717 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $172.16, for a total transaction of $25,430,958.72. Following the sale, the insider now directly owns 81,810 shares in the company, valued at approximately $14,084,409.60. The disclosure for this sale can be found here. Insiders have sold a total of 529,017 shares of company stock worth $90,372,570 in the last three months. Insiders own 2.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SBAC. Cornerstone Wealth Management LLC bought a new position in shares of SBA Communications in the second quarter worth $193,000. Alps Advisors Inc. bought a new position in shares of SBA Communications in the second quarter worth $206,000. Piedmont Investment Advisors LLC bought a new position in shares of SBA Communications in the second quarter worth $215,000. Dupont Capital Management Corp increased its holdings in shares of SBA Communications by 71.6% in the second quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock worth $203,000 after purchasing an additional 512 shares during the period. Finally, TD Asset Management Inc. increased its holdings in shares of SBA Communications by 0.4% in the second quarter. TD Asset Management Inc. now owns 100,820 shares of the technology company’s stock worth $16,647,000 after purchasing an additional 391 shares during the period. 94.25% of the stock is currently owned by hedge funds and other institutional investors.

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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