Analysts Anticipate SBA Communications Co. (SBAC) Will Announce Quarterly Sales of $491.51 Million
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.
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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