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

Wall Street brokerages expect SBA Communications Co. (NASDAQ:SBAC) to post earnings of $2.08 per share for the current quarter, Zacks reports. Five analysts have issued estimates for SBA Communications’ earnings. The highest EPS estimate is $2.10 and the lowest is $2.07. SBA Communications reported 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 business is scheduled to announce its next earnings results on Monday, November 4th.

On average, 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 financial year, analysts forecast that the company will post earnings of $9.33 per share, with EPS estimates ranging from $8.98 to $9.58. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for SBA Communications.

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

A number of research analysts recently issued reports on the company. KeyCorp increased their price objective on SBA Communications from $259.00 to $292.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Bank of America reiterated a “neutral” rating and set a $260.00 price objective (up from $245.00) on shares of SBA Communications in a report on Wednesday, August 14th. ValuEngine downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, September 27th. SunTrust Banks increased their price objective on SBA Communications to $255.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, UBS Group downgraded SBA Communications from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $209.00 to $240.00 in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. SBA Communications presently has a consensus rating of “Hold” and an average price target of $238.92.

In other SBA Communications news, SVP Brian D. Lazarus sold 20,676 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $261.00, for a total value of $5,396,436.00. Following the completion of the transaction, the senior vice president now directly owns 17,829 shares in the company, valued at $4,653,369. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brendan Thomas Cavanagh sold 54,411 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $268.07, for a total value of $14,585,956.77. Following the completion of the transaction, the chief financial officer now 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 valued at $26,774,328. Corporate insiders own 2.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Brookfield Asset Management Inc. bought a new position in SBA Communications in the second quarter valued at approximately $3,372,000. FDx Advisors Inc. lifted its position in shares of SBA Communications by 24.6% in the second quarter. FDx Advisors Inc. now owns 4,969 shares of the technology company’s stock valued at $1,117,000 after buying an additional 982 shares during the last quarter. Allstate Corp lifted its position in shares of SBA Communications by 4.1% in the first quarter. Allstate Corp now owns 3,393 shares of the technology company’s stock valued at $677,000 after buying an additional 135 shares during the last quarter. TCW Group Inc. lifted its position in shares of SBA Communications by 6.0% in the first quarter. TCW Group Inc. now owns 19,745 shares of the technology company’s stock valued at $3,943,000 after buying an additional 1,113 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of SBA Communications by 6.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,762 shares of the technology company’s stock valued at $10,514,000 after buying an additional 2,900 shares during the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Shares of NASDAQ:SBAC traded up $3.50 during mid-day trading on Friday, reaching $237.28. 506,596 shares of the stock were exchanged, compared to its average volume of 656,635. The company has a market cap of $26.84 billion, a P/E ratio of 31.22, a P/E/G ratio of 3.10 and a beta of 0.66. SBA Communications has a one year low of $146.13 and a one year high of $270.42. The stock’s 50 day simple moving average is $254.23 and its 200-day simple moving average is $226.73.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.48 dividend on an annualized basis and a yield of 0.62%. SBA Communications’s dividend payout ratio is 19.47%.

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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