SBA Communications (SBAC) Posts Earnings Results, Misses Expectations By $1.64 EPS

SBA Communications (NASDAQ:SBAC) posted its earnings results on Monday. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($1.64), Fidelity Earnings reports. SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $459.17 million. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.

Shares of SBA Communications stock traded up $3.63 during trading on Wednesday, reaching $169.85. The stock had a trading volume of 190,565 shares, compared to its average volume of 859,216. SBA Communications has a 52 week low of $146.13 and a 52 week high of $177.67.

In related news, CEO Jeffrey Stoops sold 40,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $160.05, for a total transaction of $6,402,000.00. Following the sale, the chief executive officer now owns 252,180 shares in the company, valued at $40,361,409. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. Carr sold 800 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total value of $124,000.00. Following the sale, the director now owns 3,070 shares in the company, valued at approximately $475,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,805 shares of company stock worth $12,693,203. Corporate insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC bought a new stake in SBA Communications during the second quarter worth about $115,000. FNY Investment Advisers LLC bought a new stake in SBA Communications in the second quarter valued at approximately $165,000. HRT Financial LLC bought a new stake in SBA Communications in the second quarter valued at approximately $201,000. Dupont Capital Management Corp raised its stake in SBA Communications by 71.6% in the second quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock valued at $203,000 after buying an additional 512 shares during the period. Finally, Alps Advisors Inc. bought a new stake in SBA Communications in the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 94.37% of the company’s stock.

A number of research analysts have issued reports on the company. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. BidaskClub cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Macquarie decreased their target price on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. ValuEngine cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley cut their price target on SBA Communications from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Thursday, August 16th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus target price of $179.80.

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SBA Communications Company Profile

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.

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Earnings History for SBA Communications (NASDAQ:SBAC)

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