Zacks: Brokerages Anticipate SBA Communications Co. (NASDAQ:SBAC) Will Announce Earnings of $2.65 Per Share

Wall Street analysts expect SBA Communications Co. (NASDAQ:SBAC) to announce earnings per share of $2.65 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $2.62 and the highest estimate coming in at $2.69. SBA Communications reported earnings per share of $2.38 in the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The company is expected to announce its next earnings results after the market closes on Monday, November 1st.

According to Zacks, analysts expect that SBA Communications will report full-year earnings of $10.61 per share for the current fiscal year, with EPS estimates ranging from $10.54 to $10.72. For the next fiscal year, analysts forecast that the business will post earnings of $11.50 per share, with EPS estimates ranging from $11.08 to $11.71. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for SBA Communications.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Sunday, August 1st. The technology company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.69. The firm had revenue of $575.40 million for the quarter, compared to the consensus estimate of $559.96 million. SBA Communications had a negative return on equity of 5.61% and a net margin of 12.33%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS.

SBAC has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $325.00 to $353.00 and gave the stock a “buy” rating in a report on Thursday, July 8th. They noted that the move was a valuation call. Truist Securities raised their price objective on SBA Communications from $335.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. Morgan Stanley boosted their target price on SBA Communications from $337.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, September 10th. They noted that the move was a valuation call. Truist increased their target price on SBA Communications from $335.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 3rd. Finally, Raymond James lifted their price target on SBA Communications from $346.00 to $400.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, August 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $360.75.

In other news, CAO Brian D. Lazarus sold 24,263 shares of SBA Communications stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $366.17, for a total transaction of $8,884,382.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas P. Hunt sold 50,000 shares of SBA Communications stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $357.69, for a total value of $17,884,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,752 shares of company stock worth $105,204,175. 2.20% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its stake in SBA Communications by 89.0% in the 2nd quarter. Deutsche Bank AG now owns 2,350,171 shares of the technology company’s stock worth $748,998,000 after purchasing an additional 1,106,695 shares during the period. Cohen & Steers Inc. increased its holdings in SBA Communications by 26.4% in the 1st quarter. Cohen & Steers Inc. now owns 4,577,872 shares of the technology company’s stock valued at $1,270,571,000 after acquiring an additional 956,026 shares during the last quarter. Citigroup Inc. lifted its stake in SBA Communications by 388.8% in the 1st quarter. Citigroup Inc. now owns 683,022 shares of the technology company’s stock worth $189,573,000 after purchasing an additional 543,282 shares in the last quarter. Morgan Stanley boosted its holdings in shares of SBA Communications by 75.2% during the 2nd quarter. Morgan Stanley now owns 971,938 shares of the technology company’s stock valued at $309,757,000 after purchasing an additional 417,168 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of SBA Communications by 4.4% during the 2nd quarter. BlackRock Inc. now owns 9,557,002 shares of the technology company’s stock valued at $3,045,816,000 after purchasing an additional 402,360 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Shares of SBA Communications stock opened at $326.70 on Thursday. SBA Communications has a 12 month low of $232.88 and a 12 month high of $369.56. The firm has a market capitalization of $35.79 billion, a P/E ratio of 136.13 and a beta of 0.21. The business has a fifty day simple moving average of $349.52 and a two-hundred day simple moving average of $322.54.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 23rd. Investors of record on Thursday, August 26th were given a dividend of $0.58 per share. The ex-dividend date was Wednesday, August 25th. This represents a $2.32 dividend on an annualized basis and a yield of 0.71%. SBA Communications’s dividend payout ratio (DPR) is 24.58%.

SBA Communications Company Profile

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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

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