SBA Communications Co. (NASDAQ:SBAC) Forecasted to Post Q2 2023 Earnings of $2.92 Per Share

SBA Communications Co. (NASDAQ:SBACGet Rating) – Zacks Research issued their Q2 2023 earnings per share (EPS) estimates for SBA Communications in a research note issued to investors on Monday, May 15th. Zacks Research analyst N. Dass expects that the technology company will earn $2.92 per share for the quarter. The consensus estimate for SBA Communications’ current full-year earnings is $11.75 per share. Zacks Research also issued estimates for SBA Communications’ Q3 2023 earnings at $2.91 EPS, Q4 2023 earnings at $2.97 EPS, FY2023 earnings at $11.68 EPS, Q1 2024 earnings at $3.04 EPS, Q2 2024 earnings at $3.06 EPS, Q3 2024 earnings at $3.06 EPS, Q4 2024 earnings at $3.07 EPS, FY2024 earnings at $12.25 EPS, Q1 2025 earnings at $3.16 EPS and FY2025 earnings at $12.87 EPS.

SBA Communications (NASDAQ:SBACGet Rating) last posted its earnings results on Monday, May 1st. The technology company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). SBA Communications had a net margin of 13.91% and a negative return on equity of 7.01%. The firm had revenue of $675.52 million during the quarter, compared to the consensus estimate of $672.47 million. During the same period in the prior year, the company posted $2.96 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year.

Several other research analysts also recently commented on SBAC. Wolfe Research raised SBA Communications from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 24th. Royal Bank of Canada decreased their price objective on SBA Communications from $320.00 to $290.00 in a research note on Monday, May 8th. Morgan Stanley decreased their price objective on SBA Communications from $329.00 to $308.00 in a research note on Tuesday, April 18th. Raymond James decreased their price objective on SBA Communications from $334.00 to $330.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com began coverage on SBA Communications in a research note on Thursday. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $322.93.

SBA Communications Stock Performance

SBAC stock opened at $234.91 on Thursday. The business’s 50-day moving average is $251.34 and its two-hundred day moving average is $273.38. SBA Communications has a fifty-two week low of $229.48 and a fifty-two week high of $356.59. The company has a market cap of $25.38 billion, a price-to-earnings ratio of 68.69 and a beta of 0.50.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in SBA Communications by 1.9% during the 3rd quarter. BlackRock Inc. now owns 9,673,900 shares of the technology company’s stock valued at $2,753,678,000 after buying an additional 177,089 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SBA Communications by 13.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,396,193 shares of the technology company’s stock worth $966,729,000 after purchasing an additional 407,347 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock worth $662,447,000 after purchasing an additional 348,105 shares during the period. Geode Capital Management LLC boosted its holdings in shares of SBA Communications by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 2,531,538 shares of the technology company’s stock worth $659,594,000 after purchasing an additional 49,794 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of SBA Communications by 12.7% in the 4th quarter. American Century Companies Inc. now owns 1,724,732 shares of the technology company’s stock worth $483,460,000 after purchasing an additional 194,859 shares during the period. Hedge funds and other institutional investors own 93.54% of the company’s stock.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Friday, May 26th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 25th. SBA Communications’s dividend payout ratio is presently 99.42%.

SBA Communications Company Profile

(Get Rating)

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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

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