SBA Communications Corporation (SBAC) Expected to Earn Q3 2017 Earnings of $0.23 Per Share

SBA Communications Corporation (NASDAQ:SBAC) – Equities research analysts at Jefferies Group raised their Q3 2017 earnings per share estimates for SBA Communications Corporation in a report released on Tuesday. Jefferies Group analyst M. Mccormack now anticipates that the technology company will earn $0.23 per share for the quarter, up from their prior estimate of $0.22. Jefferies Group has a “Buy” rating and a $159.00 price target on the stock. Jefferies Group also issued estimates for SBA Communications Corporation’s Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $0.86 EPS and FY2018 earnings at $1.87 EPS.

SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $427.30 million during the quarter, compared to analyst estimates of $426.10 million. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.69%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share.

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SBAC has been the subject of a number of other reports. Raymond James Financial, Inc. reissued an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Stifel Nicolaus set a $148.00 target price on SBA Communications Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Cowen and Company lifted their price target on SBA Communications Corporation from $131.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. BidaskClub cut SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $133.00 price target (up from $121.00) on shares of SBA Communications Corporation in a research report on Saturday, April 22nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. SBA Communications Corporation currently has a consensus rating of “Buy” and an average price target of $141.57.

Shares of SBA Communications Corporation (NASDAQ:SBAC) opened at 139.96 on Thursday. The company has a market capitalization of $16.93 billion, a P/E ratio of 480.96 and a beta of 0.73. The stock’s 50 day moving average price is $134.80 and its 200-day moving average price is $123.72. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $141.59.

A number of large investors have recently bought and sold shares of SBAC. Creative Planning raised its stake in SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after buying an additional 253 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in SBA Communications Corporation during the second quarter valued at about $159,000. Van ECK Associates Corp raised its stake in SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock valued at $146,000 after buying an additional 177 shares in the last quarter. Toronto Dominion Bank raised its stake 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 in the last quarter. Finally, 1ST Source Bank acquired a new stake in SBA Communications Corporation during the second quarter valued at about $201,000. 96.33% of the stock is owned by institutional investors.

In related news, Director Brian C. Carr sold 3,475 shares of SBA Communications Corporation stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $132.54, for a total transaction of $460,576.50. Following the completion of the sale, the director now owns 3,051 shares of the company’s stock, valued at $404,379.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Stoops sold 94,289 shares of SBA Communications Corporation 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 sale, the chief executive officer now directly owns 329,124 shares of the company’s stock, valued at approximately $44,023,626.24. The disclosure for this sale can be found here. Insiders have sold 155,881 shares of company stock valued at $21,002,057 in the last three months. 2.10% of the stock is owned by corporate insiders.

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.