Equities analysts expect SBA Communications Corporation (NASDAQ:SBAC) to report sales of $425.09 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for SBA Communications Corporation’s earnings, with estimates ranging from $421.32 million to $428.00 million. SBA Communications Corporation reported sales of $381.84 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.3%. The firm is expected to report its next quarterly earnings results on Thursday, July 27th.
On average, analysts expect that SBA Communications Corporation will report full-year sales of $425.09 million for the current fiscal year, with estimates ranging from $1.71 billion to $1.72 billion. For the next year, analysts anticipate that the business will post sales of $1.81 billion per share, with estimates ranging from $1.80 billion to $1.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover SBA Communications Corporation.
SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, May 1st. The technology company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $1.48. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $418.21 million. SBA Communications Corporation had a net margin of 3.69% and a negative return on equity of 2.23%. SBA Communications Corporation’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business earned $1.45 EPS.
Several brokerages have commented on SBAC. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $155.00 price target on the stock in a research note on Wednesday, July 5th. Deutsche Bank AG reiterated a “hold” rating and issued a $150.00 price target (up from $133.00) on shares of SBA Communications Corporation in a research note on Friday. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of SBA Communications Corporation in a research note on Monday, June 12th. Guggenheim upgraded shares of SBA Communications Corporation from a “neutral” rating to a “buy” rating and increased their price target for the company from $118.00 to $137.00 in a research note on Monday, April 10th. Finally, Barclays PLC increased their price target on shares of SBA Communications Corporation from $118.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. SBA Communications Corporation presently has an average rating of “Buy” and an average price target of $139.07.
In other news, Director George R. Krouse, Jr. sold 187 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $138.43, for a total value of $25,886.41. Following the completion of the sale, the director now directly owns 10,896 shares of the company’s stock, valued at $1,508,333.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Stoops sold 94,289 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $44,023,626.24. 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 three months. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. purchased a new stake in SBA Communications Corporation during the first quarter valued at $349,000. Skylands Capital LLC increased its stake in SBA Communications Corporation by 2.5% in the first quarter. Skylands Capital LLC now owns 41,000 shares of the technology company’s stock valued at $4,935,000 after buying an additional 1,000 shares during the last quarter. Atria Investments LLC increased its stake in shares of SBA Communications Corporation by 0.6% in the first quarter. Atria Investments LLC now owns 3,283 shares of the technology company’s stock valued at $395,000 after buying an additional 21 shares in the last quarter. Grassi Investment Management increased its stake in shares of SBA Communications Corporation by 0.3% in the first quarter. Grassi Investment Management now owns 8,800 shares of the technology company’s stock valued at $1,059,000 after buying an additional 25 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in shares of SBA Communications Corporation by 26.0% in the first quarter. Capstone Asset Management Co. now owns 2,861 shares of the technology company’s stock valued at $344,000 after buying an additional 590 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.
SBA Communications Corporation (SBAC) traded up 1.10% during mid-day trading on Friday, reaching $137.49. 1,028,062 shares of the company were exchanged. The firm has a market capitalization of $16.68 billion, a P/E ratio of 285.25 and a beta of 0.73. The stock has a 50-day moving average of $133.73 and a 200 day moving average of $118.45. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $140.38.
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About SBA Communications Corporation
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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