Brokerages expect SBA Communications Co. (NASDAQ:SBAC) to post $491.51 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for SBA Communications’ earnings. The highest sales estimate is $494.40 million and the lowest is $489.20 million. SBA Communications reported sales of $456.32 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The business is scheduled to issue its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that SBA Communications will report full-year sales of $1.98 billion for the current financial year, with estimates ranging from $1.97 billion to $1.99 billion. For the next fiscal year, analysts expect that the business will post sales of $2.09 billion, with estimates ranging from $2.05 billion to $2.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover SBA Communications.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($1.66). SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The business had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. During the same quarter in the prior year, the firm posted $1.85 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis.
In other SBA Communications news, SVP Brian D. Lazarus sold 20,561 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $187.51, for a total transaction of $3,855,393.11. Following the transaction, the senior vice president now owns 36,525 shares in the company, valued at $6,848,802.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason V. Silberstein sold 51,369 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $190.71, for a total transaction of $9,796,581.99. Following the sale, the executive vice president now directly owns 60,154 shares of the company’s stock, valued at $11,471,969.34. The disclosure for this sale can be found here. Insiders have sold 133,028 shares of company stock worth $26,590,459 in the last quarter. Company insiders own 2.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of SBA Communications during the fourth quarter valued at $138,480,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in SBA Communications in the fourth quarter worth about $363,000. Flinton Capital Management LLC lifted its stake in SBA Communications by 11.7% in the fourth quarter. Flinton Capital Management LLC now owns 6,188 shares of the technology company’s stock worth $1,001,000 after acquiring an additional 646 shares during the period. RFG Advisory LLC purchased a new stake in SBA Communications in the fourth quarter worth about $522,000. Finally, Swiss National Bank lifted its stake in SBA Communications by 1.3% in the first quarter. Swiss National Bank now owns 378,551 shares of the technology company’s stock worth $75,581,000 after acquiring an additional 5,000 shares during the period. 94.25% of the stock is owned by hedge funds and other institutional investors.
Shares of SBAC opened at $220.50 on Friday. SBA Communications has a fifty-two week low of $146.13 and a fifty-two week high of $223.31. The firm has a market capitalization of $24.97 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 2.85 and a beta of 0.68.
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. 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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