Brokerages Expect SBA Communications Co. (NASDAQ:SBAC) to Announce $2.16 Earnings Per Share

Equities analysts forecast that SBA Communications Co. (NASDAQ:SBAC) will report earnings per share of $2.16 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for SBA Communications’ earnings. The highest EPS estimate is $2.18 and the lowest is $2.14. SBA Communications reported earnings per share of $2.00 during the same quarter last year, which would suggest a positive year over year growth rate of 8%. The company is expected to issue its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that SBA Communications will report full year earnings of $8.45 per share for the current fiscal year, with EPS estimates ranging from $8.38 to $8.49. For the next year, analysts expect that the firm will report earnings of $9.25 per share, with EPS estimates ranging from $9.10 to $9.45. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow SBA Communications.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($1.78). The business had revenue of $486.60 million for the quarter, compared to analyst estimates of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS.

Several research analysts have recently commented on SBAC shares. SunTrust Banks lifted their target price on SBA Communications to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. BidaskClub upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Saturday. KeyCorp lifted their target price on SBA Communications from $259.00 to $292.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Morgan Stanley downgraded SBA Communications from an “overweight” rating to an “equal” rating and lifted their target price for the stock from $222.00 to $249.00 in a research note on Thursday, September 19th. Finally, TheStreet downgraded SBA Communications from a “b-” rating to a “c” rating in a research note on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. SBA Communications has a consensus rating of “Hold” and a consensus price target of $248.73.

In other SBA Communications news, Director Jack Langer sold 5,301 shares of SBA Communications stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $261.91, for a total value of $1,388,384.91. Following the completion of the transaction, the director now directly owns 50 shares of the company’s stock, valued at approximately $13,095.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian D. Lazarus sold 20,676 shares of SBA Communications stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at $4,653,369. The disclosure for this sale can be found here. Insiders sold a total of 80,388 shares of company stock valued at $21,370,778 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBAC. Dorsey Wright & Associates raised its holdings in SBA Communications by 0.6% in the 2nd quarter. Dorsey Wright & Associates now owns 15,083 shares of the technology company’s stock valued at $3,391,000 after acquiring an additional 86 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in SBA Communications by 4.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,411 shares of the technology company’s stock valued at $1,666,000 after acquiring an additional 338 shares in the last quarter. Retirement Systems of Alabama raised its holdings in SBA Communications by 0.7% in the 2nd quarter. Retirement Systems of Alabama now owns 52,813 shares of the technology company’s stock valued at $11,874,000 after acquiring an additional 386 shares in the last quarter. Exane Derivatives acquired a new position in shares of SBA Communications during the 2nd quarter worth $223,000. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of SBA Communications by 6.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 20,122 shares of the technology company’s stock worth $4,524,000 after buying an additional 1,175 shares in the last quarter. 93.32% of the stock is owned by hedge funds and other institutional investors.

SBA Communications stock traded up $2.28 during midday trading on Tuesday, reaching $237.26. The stock had a trading volume of 647,300 shares, compared to its average volume of 624,935. SBA Communications has a 1-year low of $155.19 and a 1-year high of $270.42. The firm’s fifty day simple moving average is $237.98 and its 200-day simple moving average is $235.01. The stock has a market capitalization of $26.46 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 3.01 and a beta of 0.65.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 21st will be paid a $0.37 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.48 annualized dividend and a yield of 0.62%. SBA Communications’s dividend payout ratio (DPR) is presently 19.47%.

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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