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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