SBA Communications Corporation (SBAC) Expected to Announce Earnings of $0.20 Per Share
Equities analysts expect that SBA Communications Corporation (NASDAQ:SBAC) will report earnings of $0.20 per share for the current quarter, according to Zacks. Six analysts have made estimates for SBA Communications Corporation’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.25. SBA Communications Corporation posted earnings of $0.10 per share during the same quarter last year, which would suggest a positive year over year growth rate of 100%. The business is scheduled to report its next earnings results on Thursday, July 27th.
On average, analysts expect that SBA Communications Corporation will report full year earnings of $1.01 per share for the current year, with EPS estimates ranging from $0.83 to $1.13. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.68 per share, with EPS estimates ranging from $1.36 to $2.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow SBA Communications Corporation.
SBA Communications Corporation (NASDAQ:SBAC) last issued its earnings results on Monday, May 1st. The technology company reported $1.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $1.48. The business had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $418.21 million. SBA Communications Corporation had a negative return on equity of 2.23% and a net margin of 3.69%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 EPS.
Several research firms have commented on SBAC. Raymond James Financial, Inc. reissued an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. BidaskClub downgraded shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Zacks Investment Research downgraded shares of SBA Communications Corporation from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 4th. Guggenheim raised shares of SBA Communications Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $118.00 to $137.00 in a research report on Monday, April 10th. Finally, Macquarie reissued a “hold” rating and issued a $107.00 target price on shares of SBA Communications Corporation in a research report on Sunday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $135.29.
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Shares of SBA Communications Corporation (NASDAQ SBAC) traded up 0.51% on Monday, hitting $131.91. The stock had a trading volume of 2,864,633 shares. SBA Communications Corporation has a one year low of $95.66 and a one year high of $140.38. The stock has a market cap of $16.00 billion, a PE ratio of 273.67 and a beta of 0.77. The company’s 50 day moving average is $132.96 and its 200 day moving average is $116.97.
In other news, CEO Jeffrey Stoops sold 94,289 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $133.76, for a total value of $12,612,096.64. Following the completion of the sale, the chief executive officer now directly owns 329,124 shares in the company, valued at $44,023,626.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George R. Krouse, Jr. sold 187 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $138.43, for a total transaction of $25,886.41. Following the completion of the sale, the director now owns 10,896 shares of the company’s stock, valued at $1,508,333.28. The disclosure for this sale can be found here. Insiders sold 171,028 shares of company stock valued at $22,956,475 over the last 90 days. 2.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in SBA Communications Corporation by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 1,040 shares of the technology company’s stock valued at $107,000 after buying an additional 206 shares during the last quarter. Toronto Dominion Bank boosted its position in SBA Communications Corporation by 25.7% in the first quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock valued at $163,000 after buying an additional 278 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in SBA Communications Corporation by 14.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,676 shares of the technology company’s stock valued at $175,000 after buying an additional 211 shares during the last quarter. Kings Point Capital Management bought a new position in SBA Communications Corporation during the first quarter valued at approximately $200,000. Finally, Boston Advisors LLC bought a new position in SBA Communications Corporation during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 96.17% of the company’s stock.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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