SBA Communications Co. (SBAC) Expected to Post Quarterly Sales of $472.26 Million

Wall Street analysts forecast that SBA Communications Co. (NASDAQ:SBAC) will report sales of $472.26 million for the current quarter, Zacks reports. Five analysts have made estimates for SBA Communications’ earnings, with estimates ranging from $470.62 million to $475.60 million. SBA Communications posted sales of $443.07 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The company is scheduled to issue its next earnings report after the market closes on Thursday, February 21st.

According to Zacks, analysts expect that SBA Communications will report full-year sales of $1.85 billion for the current year, with estimates ranging from $1.85 billion to $1.86 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.98 billion, with estimates ranging from $1.96 billion to $2.01 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover SBA Communications.

Several equities research analysts recently commented on SBAC shares. ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. Citigroup upped their target price on shares of SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, November 6th. KeyCorp upped their target price on shares of SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Bank of America set a $189.00 target price on shares of SBA Communications and gave the stock a “buy” rating in a research note on Thursday, November 15th. Finally, BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $182.00.

In other news, Director Kevin L. Beebe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $172.51, for a total transaction of $1,725,100.00. Following the completion of the transaction, the director now directly owns 21,726 shares of the company’s stock, valued at $3,747,952.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brian D. Lazarus sold 15,875 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $173.00, for a total transaction of $2,746,375.00. Following the transaction, the senior vice president now directly owns 26,423 shares of the company’s stock, valued at $4,571,179. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Carillon Tower Advisers Inc. raised its holdings in shares of SBA Communications by 15.7% during the third quarter. Carillon Tower Advisers Inc. now owns 500,952 shares of the technology company’s stock valued at $80,467,000 after purchasing an additional 67,807 shares during the last quarter. First Bank & Trust increased its holdings in SBA Communications by 1.8% during the fourth quarter. First Bank & Trust now owns 5,361 shares of the technology company’s stock valued at $868,000 after buying an additional 93 shares during the last quarter. Vanguard Group Inc. increased its holdings in SBA Communications by 2.1% during the third quarter. Vanguard Group Inc. now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after buying an additional 380,936 shares during the last quarter. Norinchukin Bank The increased its holdings in SBA Communications by 13.1% during the third quarter. Norinchukin Bank The now owns 14,766 shares of the technology company’s stock valued at $2,372,000 after buying an additional 1,716 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in SBA Communications during the fourth quarter valued at approximately $139,000. 93.37% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SBAC traded down $0.33 during mid-day trading on Thursday, hitting $182.66. 775,970 shares of the company’s stock were exchanged, compared to its average volume of 665,269. SBA Communications has a one year low of $146.13 and a one year high of $186.35.

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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