Brokerages Anticipate SBA Communications Co. (NASDAQ:SBAC) Will Post Earnings of $2.97 Per Share

Wall Street analysts forecast that SBA Communications Co. (NASDAQ:SBAC – Get Rating) will post earnings of $2.97 per share for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $2.91 and the highest estimate coming in at $3.03. SBA Communications posted earnings per share of $2.64 during the same quarter last year, which indicates a positive year-over-year growth rate of 12.5%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that SBA Communications will report full year earnings of $11.97 per share for the current fiscal year, with EPS estimates ranging from $11.86 to $12.08. For the next financial year, analysts anticipate that the firm will post earnings of $12.86 per share, with EPS estimates ranging from $12.55 to $13.06. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for SBA Communications.

SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings results on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. The firm had revenue of $619.77 million for the quarter, compared to analysts’ expectations of $603.91 million. SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. SBA Communications’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS.

A number of equities research analysts have commented on the company. Moffett Nathanson lowered SBA Communications from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $393.00 to $380.00 in a research report on Monday, April 11th. Wells Fargo & Company raised their price objective on SBA Communications from $375.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, April 18th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Royal Bank of Canada decreased their price objective on SBA Communications from $380.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 7th. Finally, KeyCorp raised their price objective on SBA Communications from $384.00 to $393.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $392.67.

Shares of NASDAQ SBAC opened at $334.10 on Tuesday. SBA Communications has a one year low of $286.41 and a one year high of $391.15. The firm has a market capitalization of $36.03 billion, a PE ratio of 84.37 and a beta of 0.41. The business has a 50-day moving average price of $342.74 and a two-hundred day moving average price of $339.95.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Thursday, May 19th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.84 annualized dividend and a yield of 0.85%. SBA Communications’s dividend payout ratio (DPR) is currently 71.72%.

In other SBA Communications news, Director Kevin L. Beebe sold 1,889 shares of SBA Communications stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $347.72, for a total value of $656,843.08. Following the transaction, the director now directly owns 14,813 shares of the company’s stock, valued at approximately $5,150,776.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 500 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 8th. The stock was 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. Over the last 90 days, insiders sold 6,149 shares of company stock valued at $2,061,835. Corporate insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PFG Advisors increased its position in shares of SBA Communications by 1.2% during the first quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock valued at $902,000 after purchasing an additional 30 shares during the period. Signaturefd LLC increased its position in shares of SBA Communications by 6.0% during the first quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock valued at $188,000 after purchasing an additional 31 shares during the period. Hotaling Investment Management LLC increased its position in shares of SBA Communications by 4.9% during the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock valued at $244,000 after purchasing an additional 33 shares during the period. Marks Group Wealth Management Inc increased its position in shares of SBA Communications by 2.9% during the first quarter. Marks Group Wealth Management Inc now owns 1,176 shares of the technology company’s stock valued at $405,000 after purchasing an additional 33 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of SBA Communications by 1.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock valued at $1,116,000 after purchasing an additional 34 shares during the period. 95.41% of the stock is currently owned by 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 Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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