Brokerages Anticipate SBA Communications Co. (SBAC) Will Announce Quarterly Sales of $491.51 Million

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.

Several equities research analysts recently weighed in on SBAC shares. Raymond James cut shares of SBA Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. KeyCorp boosted their price target on shares of SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 12th. Morgan Stanley boosted their price target on shares of SBA Communications from $204.00 to $222.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Guggenheim cut shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research report on Friday, February 22nd. Finally, BidaskClub cut shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus target price of $201.80.

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

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