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.
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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