$453.24 Million in Sales Expected for SBA Communications (SBAC) This Quarter

Brokerages expect SBA Communications (NASDAQ:SBAC) to post $453.24 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for SBA Communications’ earnings, with the lowest sales estimate coming in at $450.38 million and the highest estimate coming in at $456.39 million. SBA Communications posted sales of $423.36 million in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, April 30th.

According to Zacks, analysts expect that SBA Communications will report full year sales of $1.86 billion for the current year, with estimates ranging from $1.85 billion to $1.87 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.00 billion per share, with estimates ranging from $1.97 billion to $2.02 billion. Zacks’ sales averages are an average based on a survey of analysts that cover SBA Communications.

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SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $1.60. SBA Communications had a negative return on equity of 5.43% and a net margin of 6.00%. The company had revenue of $443.10 million for the quarter, compared to the consensus estimate of $437.01 million. During the same quarter in the prior year, the company earned $0.04 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis.

SBAC has been the subject of several recent analyst reports. KeyCorp set a $188.00 price objective on SBA Communications and gave the stock a “buy” rating in a research note on Tuesday, February 27th. BidaskClub upgraded SBA Communications from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 25th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Finally, Morgan Stanley dropped their price objective on SBA Communications from $190.00 to $182.00 and set an “overweight” rating for the company in a research note on Friday, March 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $172.50.

In other SBA Communications news, Director Duncan Cocroft bought 500 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were bought at an average price of $167.29 per share, for a total transaction of $83,645.00. Following the completion of the acquisition, the director now owns 87,966 shares of the company’s stock, valued at $14,715,832.14. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in SBAC. Acadian Asset Management LLC bought a new position in SBA Communications in the fourth quarter valued at about $108,000. Tower Research Capital LLC TRC boosted its holdings in SBA Communications by 168.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 809 shares of the technology company’s stock worth $132,000 after buying an additional 508 shares during the last quarter. MAI Capital Management bought a new position in SBA Communications during the fourth quarter worth about $204,000. Alps Advisors Inc. bought a new position in SBA Communications during the fourth quarter worth about $206,000. Finally, D.A. Davidson & CO. bought a new position in SBA Communications during the fourth quarter worth about $206,000. Institutional investors own 92.99% of the company’s stock.

SBA Communications stock traded up $2.56 during mid-day trading on Friday, hitting $167.10. 402,239 shares of the company were exchanged, compared to its average volume of 1,196,819. The company has a debt-to-equity ratio of -3.57, a current ratio of 0.93 and a quick ratio of 0.93. SBA Communications has a 1-year low of $122.43 and a 1-year high of $177.67. The firm has a market capitalization of $19,170.06, a P/E ratio of 166.20, a P/E/G ratio of 17.81 and a beta of 0.86.

SBA Communications announced that its Board of Directors has approved a stock repurchase program on Monday, February 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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

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