SBA Communications Co. (NASDAQ:SBAC) Expected to Post Quarterly Sales of $498.61 Million

Brokerages forecast that SBA Communications Co. (NASDAQ:SBAC) will post sales of $498.61 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for SBA Communications’ earnings, with estimates ranging from $493.80 million to $506.47 million. SBA Communications posted sales of $467.22 million during the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The business is scheduled to issue its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that SBA Communications will report full year sales of $1.99 billion for the current year, with estimates ranging from $1.97 billion to $2.01 billion. For the next year, analysts expect that the company will post sales of $2.12 billion, with estimates ranging from $2.08 billion to $2.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow SBA Communications.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The business had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. During the same quarter in the prior year, the company earned ($0.50) earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.

A number of equities analysts have recently commented on SBAC shares. BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 9th. ValuEngine upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. UBS Group downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $209.00 to $240.00 in a research note on Friday, June 7th. Raymond James downgraded shares of SBA Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Cowen increased their price objective on shares of SBA Communications from $203.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications currently has an average rating of “Hold” and an average target price of $230.85.

Shares of SBA Communications stock traded up $0.11 during trading hours on Thursday, reaching $260.53. 407,253 shares of the company’s stock were exchanged, compared to its average volume of 642,207. The company has a 50 day moving average of $243.03 and a two-hundred day moving average of $212.52. SBA Communications has a fifty-two week low of $146.13 and a fifty-two week high of $263.04. The stock has a market cap of $29.44 billion, a P/E ratio of 34.28, a P/E/G ratio of 3.33 and a beta of 0.69.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, August 28th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.57%.

In other news, Director Duncan Cocroft sold 6,453 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $209.71, for a total value of $1,353,258.63. Following the sale, the director now directly owns 69,774 shares of the company’s stock, valued at approximately $14,632,305.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kurt L. Bagwell sold 14,320 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $225.53, for a total transaction of $3,229,589.60. Following the completion of the sale, the executive vice president now directly owns 58,375 shares in the company, valued at $13,165,313.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,825 shares of company stock worth $25,054,792. 2.50% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SBAC. CWM LLC raised its holdings in SBA Communications by 17.7% in the 2nd quarter. CWM LLC now owns 286 shares of the technology company’s stock valued at $64,000 after acquiring an additional 43 shares during the period. Tealwood Asset Management Inc. raised its holdings in SBA Communications by 0.5% in the 2nd quarter. Tealwood Asset Management Inc. now owns 9,144 shares of the technology company’s stock valued at $2,056,000 after acquiring an additional 46 shares during the period. NEXT Financial Group Inc raised its holdings in SBA Communications by 22.7% in the 2nd quarter. NEXT Financial Group Inc now owns 276 shares of the technology company’s stock valued at $62,000 after acquiring an additional 51 shares during the period. Advisory Services Network LLC raised its holdings in SBA Communications by 65.4% in the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in SBA Communications by 5.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,025 shares of the technology company’s stock valued at $230,000 after acquiring an additional 54 shares during the period. 93.54% of the stock is currently owned by institutional investors.

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.

Recommended Story: How does a reverse stock split work?

Get a free copy of the Zacks research report on SBA Communications (SBAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.