SBA Communications Corporation (SBAC) Issues FY17 Earnings Guidance
SBA Communications Corporation (NASDAQ:SBAC) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $7.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.15. The company issued revenue guidance of $1.728 billion, compared to the consensus revenue estimate of $1.72 billion.
Several brokerages have recently weighed in on SBAC. Citigroup Inc. lifted their target price on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the company a neutral rating in a report on Monday, August 28th. Zacks Investment Research raised shares of SBA Communications Corporation from a sell rating to a hold rating in a report on Monday, October 16th. Cowen and Company reaffirmed a buy rating and issued a $147.00 target price on shares of SBA Communications Corporation in a report on Tuesday, October 17th. UBS AG began coverage on shares of SBA Communications Corporation in a report on Wednesday, October 18th. They issued a buy rating and a $176.00 target price on the stock. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $159.00 target price (up previously from $147.00) on shares of SBA Communications Corporation in a report on Thursday, August 24th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $149.67.
SBA Communications Corporation (NASDAQ:SBAC) opened at 157.18 on Wednesday. The firm’s 50-day moving average is $147.36 and its 200-day moving average is $139.04. SBA Communications Corporation has a 12 month low of $95.66 and a 12 month high of $159.14. The firm has a market cap of $18.92 billion, a PE ratio of 540.14 and a beta of 0.69.
SBA Communications Corporation (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.89%. SBA Communications Corporation’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) EPS. Equities analysts expect that SBA Communications Corporation will post $0.98 earnings per share for the current year.
In other news, Director George R. Krouse, Jr. sold 1,643 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total transaction of $227,769.09. Following the completion of the transaction, the director now owns 11,643 shares in the company, valued at approximately $1,614,069.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Brian D. Lazarus sold 7,376 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,674 shares of company stock valued at $2,706,217. Insiders own 2.40% of the company’s stock.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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