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.
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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