$603.88 Million in Sales Expected for SBA Communications Co. (NASDAQ:SBAC) This Quarter

Equities analysts expect SBA Communications Co. (NASDAQ:SBACGet Rating) to report sales of $603.88 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for SBA Communications’ earnings, with the highest sales estimate coming in at $609.18 million and the lowest estimate coming in at $596.00 million. SBA Communications reported sales of $548.74 million in the same quarter last year, which would indicate a positive year over year growth rate of 10%. The company is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that SBA Communications will report full year sales of $2.46 billion for the current fiscal year, with estimates ranging from $2.45 billion to $2.49 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.56 billion, with estimates ranging from $2.54 billion to $2.60 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover SBA Communications.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings data on Monday, February 28th. The technology company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.25). SBA Communications had a net margin of 10.29% and a negative return on equity of 4.72%. The business had revenue of $595.30 million during the quarter, compared to analysts’ expectations of $589.77 million. During the same period in the previous year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.

Several brokerages have recently commented on SBAC. Barclays decreased their price target on SBA Communications from $376.00 to $373.00 in a research note on Friday, March 18th. Morgan Stanley lifted their price objective on shares of SBA Communications from $384.00 to $412.00 and gave the company an “overweight” rating in a research note on Thursday, April 7th. Royal Bank of Canada reduced their price objective on shares of SBA Communications from $380.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 7th. Jefferies Financial Group lowered shares of SBA Communications from a “buy” rating to a “hold” rating and decreased their price target for the company from $405.00 to $377.00 in a report on Monday, January 10th. Finally, Moffett Nathanson downgraded SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the company from $393.00 to $380.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Buy” and a consensus target price of $385.00.

Shares of NASDAQ SBAC opened at $354.61 on Thursday. The business has a 50-day moving average price of $326.84 and a 200 day moving average price of $339.20. The stock has a market cap of $38.27 billion, a PE ratio of 166.48 and a beta of 0.44. SBA Communications has a 52-week low of $280.30 and a 52-week high of $391.15.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Thursday, March 10th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Wednesday, March 9th. This is a boost from SBA Communications’s previous quarterly dividend of $0.58. SBA Communications’s payout ratio is currently 133.33%.

In other news, EVP Kurt L. Bagwell sold 3,757 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total value of $1,239,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 500 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The disclosure for this sale can be found here. Insiders sold 4,260 shares of company stock valued at $1,404,992 in the last three months. Company insiders own 2.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SBAC. BlackRock Inc. raised its stake in SBA Communications by 3.7% during the fourth quarter. BlackRock Inc. now owns 9,895,814 shares of the technology company’s stock worth $3,849,667,000 after buying an additional 352,616 shares during the last quarter. State Street Corp boosted its position in shares of SBA Communications by 5.3% during the 4th quarter. State Street Corp now owns 4,843,434 shares of the technology company’s stock worth $1,884,193,000 after purchasing an additional 245,174 shares in the last quarter. Deutsche Bank AG grew its stake in shares of SBA Communications by 12.1% in the 4th quarter. Deutsche Bank AG now owns 3,048,354 shares of the technology company’s stock valued at $1,185,871,000 after buying an additional 328,421 shares during the period. Principal Financial Group Inc. increased its position in SBA Communications by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 2,866,943 shares of the technology company’s stock valued at $1,108,957,000 after buying an additional 12,803 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in SBA Communications by 2.9% during the 4th quarter. Brown Advisory Inc. now owns 2,539,094 shares of the technology company’s stock worth $987,759,000 after buying an additional 72,292 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

Read More

Get a free copy of the Zacks research report on SBA Communications (SBAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.