Brokerages Anticipate SBA Communications Co. (NASDAQ:SBAC) Will Announce Earnings of $2.08 Per Share

Analysts expect SBA Communications Co. (NASDAQ:SBAC) to report $2.08 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for SBA Communications’ earnings, with estimates ranging from $2.07 to $2.10. SBA Communications posted earnings per share of $1.92 in the same quarter last year, which indicates a positive year-over-year growth rate of 8.3%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, October 28th.

According to Zacks, analysts expect that SBA Communications will report full year earnings of $8.40 per share for the current financial year, with EPS estimates ranging from $8.34 to $8.44. For the next fiscal year, analysts forecast that the business will post earnings of $9.33 per share, with EPS estimates ranging from $8.98 to $9.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for SBA Communications.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($1.58). SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The business had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. During the same quarter last year, the firm posted ($0.50) earnings per share. SBA Communications’s revenue was up 9.6% on a year-over-year basis.

Several analysts have recently weighed in on SBAC shares. Moffett Nathanson reiterated a “neutral” rating and set a $246.00 target price on shares of SBA Communications in a research report on Monday, July 8th. BidaskClub lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen lifted their target price on shares of SBA Communications from $203.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered shares of SBA Communications from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $220.00 to $270.00 in a research report on Thursday, August 1st. Finally, SunTrust Banks boosted their price target on shares of SBA Communications to $255.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $238.92.

Shares of SBA Communications stock opened at $244.10 on Monday. The firm’s 50-day simple moving average is $247.57 and its 200-day simple moving average is $230.02. SBA Communications has a twelve month low of $150.52 and a twelve month high of $270.42. The firm has a market cap of $27.15 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 3.09 and a beta of 0.65.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th were given a $0.37 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $1.48 dividend on an annualized basis and a yield of 0.61%. SBA Communications’s dividend payout ratio (DPR) is presently 19.47%.

In other SBA Communications news, Director Jack Langer sold 5,301 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $261.91, for a total value of $1,388,384.91. Following the completion of the transaction, the director now directly owns 50 shares of the company’s stock, valued at $13,095.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brendan Thomas Cavanagh sold 54,411 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total transaction of $14,585,956.77. Following the completion of the transaction, the chief financial officer now directly owns 98,751 shares of the company’s stock, valued at $26,472,180.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,616 shares of company stock worth $26,774,328. Company insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SBAC. Advisory Services Network LLC raised its stake in shares of SBA Communications by 65.4% in the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in shares of SBA Communications during the second quarter worth approximately $29,000. Certified Advisory Corp bought a new stake in shares of SBA Communications during the second quarter worth approximately $31,000. Berman Capital Advisors LLC raised its stake in shares of SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock worth $34,000 after buying an additional 79 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in shares of SBA Communications during the second quarter worth approximately $43,000. 93.29% of the stock is owned by institutional investors.

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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