Equities research analysts expect SBA Communications Co. (NASDAQ:SBAC) to post $491.51 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for SBA Communications’ earnings. The highest sales estimate is $494.40 million and the lowest is $489.20 million. SBA Communications posted sales of $456.32 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The company is expected to report its next quarterly earnings results on Monday, July 29th.

According to Zacks, analysts expect that SBA Communications will report full-year sales of $1.97 billion for the current financial year, with estimates ranging from $1.95 billion to $1.99 billion. For the next financial year, analysts anticipate that the company will post sales of $2.09 billion, with estimates ranging from $2.05 billion to $2.13 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SBA Communications.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing the consensus estimate of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The company had revenue of $493.29 million for the quarter, compared to analysts’ expectations of $481.06 million. During the same period in the prior year, the company earned $1.85 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis.

Several equities research analysts have recently commented on SBAC shares. BidaskClub downgraded SBA Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 20th. Morgan Stanley upped their target price on SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, March 11th. Bank of America upped their target price on SBA Communications from $189.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. SunTrust Banks reaffirmed a “buy” rating and set a $217.00 target price on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. Finally, Guggenheim downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. SBA Communications has an average rating of “Buy” and a consensus price target of $195.56.

In related news, Director Brian C. Carr sold 700 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $206.50, for a total transaction of $144,550.00. Following the transaction, the director now directly owns 2,590 shares of the company’s stock, valued at $534,835. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Steven E. Bernstein sold 30,241 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $182.71, for a total value of $5,525,333.11. Following the transaction, the chairman now directly owns 15,606 shares in the company, valued at $2,851,372.26. The disclosure for this sale can be found here. Insiders have sold 255,916 shares of company stock worth $47,405,473 over the last three months. 2.50% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of SBAC. Cohen & Steers Inc. increased its position in SBA Communications by 428.1% in the 4th quarter. Cohen & Steers Inc. now owns 3,636,352 shares of the technology company’s stock worth $588,689,000 after purchasing an additional 2,947,789 shares during the last quarter. Norges Bank acquired a new position in SBA Communications in the 4th quarter worth about $138,480,000. Daiwa Securities Group Inc. increased its position in SBA Communications by 18,340.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 762,885 shares of the technology company’s stock worth $123,503,000 after purchasing an additional 758,748 shares during the last quarter. Millennium Management LLC increased its position in SBA Communications by 248.5% in the 4th quarter. Millennium Management LLC now owns 931,721 shares of the technology company’s stock worth $150,836,000 after purchasing an additional 664,371 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its position in SBA Communications by 93.2% in the 4th quarter. Commonwealth Bank of Australia now owns 1,027,197 shares of the technology company’s stock worth $166,282,000 after purchasing an additional 495,490 shares during the last quarter. 94.69% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ SBAC opened at $210.40 on Thursday. SBA Communications has a 12 month low of $146.13 and a 12 month high of $212.96. The firm has a market cap of $23.56 billion, a PE ratio of 27.68, a P/E/G ratio of 2.70 and a beta of 0.82.

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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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