SBA Communications Co. (NASDAQ:SBAC) Expected to Announce Quarterly Sales of $491.51 Million

Wall Street brokerages expect that SBA Communications Co. (NASDAQ:SBAC) will announce $491.51 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for SBA Communications’ earnings, with the highest sales estimate coming in at $494.40 million and the lowest estimate coming in at $489.20 million. SBA Communications posted sales of $456.32 million in the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next earnings report on Monday, July 29th.

On average, analysts expect that SBA Communications will report full year sales of $1.98 billion for the current financial year, with estimates ranging from $1.97 billion to $1.99 billion. For the next fiscal year, analysts expect that the firm will report sales of $2.09 billion, with estimates ranging from $2.05 billion to $2.13 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for SBA Communications.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The firm had revenue of $493.29 million during the quarter, compared to analyst estimates of $481.06 million. During the same period in the prior year, the firm earned $1.85 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis.

SBAC has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 20th. Guggenheim downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a report on Friday, February 22nd. Morgan Stanley boosted their target price on shares of SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, March 11th. Bank of America boosted their target price on shares of SBA Communications from $189.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, SunTrust Banks restated a “buy” rating and issued a $217.00 target price on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $204.91.

In other SBA Communications news, CEO Jeffrey Stoops sold 37,847 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $218.87, for a total transaction of $8,283,572.89. Following the completion of the sale, the chief executive officer now directly owns 255,141 shares in the company, valued at $55,842,710.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director George R. Krouse, Jr. sold 1,899 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $204.16, for a total transaction of $387,699.84. Following the sale, the director now owns 10,481 shares of the company’s stock, valued at $2,139,800.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,978 shares of company stock valued at $14,787,645. 2.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its position in SBA Communications by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock worth $2,965,496,000 after buying an additional 380,936 shares during the last quarter. IFP Advisors Inc raised its position in SBA Communications by 19.7% in the 4th quarter. IFP Advisors Inc now owns 571 shares of the technology company’s stock worth $93,000 after buying an additional 94 shares during the last quarter. CWM LLC raised its position in SBA Communications by 49.2% in the 4th quarter. CWM LLC now owns 185 shares of the technology company’s stock worth $30,000 after buying an additional 61 shares during the last quarter. Keybank National Association OH raised its position in SBA Communications by 2.0% in the 4th quarter. Keybank National Association OH now owns 6,000 shares of the technology company’s stock worth $971,000 after buying an additional 115 shares during the last quarter. Finally, KBC Group NV raised its position in SBA Communications by 3.7% in the 4th quarter. KBC Group NV now owns 19,473 shares of the technology company’s stock worth $3,152,000 after buying an additional 698 shares during the last quarter. Institutional investors own 94.28% of the company’s stock.

SBA Communications stock traded up $2.00 during trading on Friday, reaching $226.50. The company had a trading volume of 787,347 shares, compared to its average volume of 685,408. SBA Communications has a 12-month low of $146.13 and a 12-month high of $227.98. The company has a market cap of $25.42 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.90 and a beta of 0.68.

About SBA Communications

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

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