Zacks: Brokerages Expect SBA Communications Co. (NASDAQ:SBAC) to Announce $2.10 EPS

Equities analysts forecast that SBA Communications Co. (NASDAQ:SBAC) will announce earnings of $2.10 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for SBA Communications’ earnings. The lowest EPS estimate is $2.07 and the highest is $2.15. SBA Communications reported earnings of $1.92 per share in the same quarter last year, which indicates a positive year over year growth rate of 9.4%. The company is scheduled to report its next quarterly earnings report on Monday, November 4th.

According to Zacks, analysts expect that SBA Communications will report full-year earnings of $8.40 per share for the current fiscal year, with EPS estimates ranging from $8.34 to $8.44. For the next year, analysts anticipate that the company will post earnings of $9.27 per share, with EPS estimates ranging from $8.98 to $9.58. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow SBA Communications.

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



Several brokerages have weighed in on SBAC. UBS Group lowered SBA Communications from a “buy” rating to a “neutral” rating and upped their target price for the stock from $209.00 to $240.00 in a research report on Friday, June 7th. SunTrust Banks upped their target price on SBA Communications to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. TheStreet raised SBA Communications from a “c” rating to a “b-” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $270.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $228.31.

In other news, CEO Jeffrey Stoops sold 37,847 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $218.87, for a total transaction of $8,283,572.89. Following the transaction, the chief executive officer now owns 255,141 shares of the company’s stock, valued at approximately $55,842,710.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 620 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $258.26, for a total value of $160,121.20. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,582,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,382 shares of company stock worth $17,887,345. 2.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of SBA Communications by 5.0% during the 2nd quarter. BlackRock Inc. now owns 10,196,949 shares of the technology company’s stock valued at $2,292,683,000 after acquiring an additional 486,674 shares during the last quarter. Cohen & Steers Inc. boosted its stake in SBA Communications by 28.0% during the 2nd quarter. Cohen & Steers Inc. now owns 4,522,092 shares of the technology company’s stock valued at $1,016,747,000 after purchasing an additional 990,368 shares during the period. Canada Pension Plan Investment Board boosted its stake in SBA Communications by 6.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,164,605 shares of the technology company’s stock valued at $486,690,000 after purchasing an additional 132,509 shares during the period. Geode Capital Management LLC boosted its stake in SBA Communications by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 1,498,094 shares of the technology company’s stock valued at $242,108,000 after purchasing an additional 80,550 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in SBA Communications by 24.7% during the 1st quarter. Commonwealth Bank of Australia now owns 1,280,749 shares of the technology company’s stock valued at $255,703,000 after purchasing an additional 253,552 shares during the period. 94.07% of the stock is currently owned by institutional investors and hedge funds.

SBAC stock traded up $0.44 during mid-day trading on Tuesday, hitting $260.29. The stock had a trading volume of 1,251,800 shares, compared to its average volume of 574,828. SBA Communications has a 1-year low of $146.13 and a 1-year high of $261.73. The company has a fifty day moving average of $238.98 and a 200 day moving average of $210.58. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 3.32 and a beta of 0.69.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Tuesday, August 27th.

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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Earnings History and Estimates for SBA Communications (NASDAQ:SBAC)

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