SBA Communications Co. (SBAC) Expected to Post Earnings of $1.91 Per Share
Analysts expect that SBA Communications Co. (NASDAQ:SBAC) will post $1.91 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $1.94. The company is scheduled to announce its next quarterly earnings results on Monday, February 25th.
According to Zacks, analysts expect that SBA Communications will report full year earnings of $7.51 per share for the current year, with EPS estimates ranging from $7.49 to $7.54. For the next year, analysts anticipate that the company will post earnings of $8.39 per share, with EPS estimates ranging from $8.23 to $8.60. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover SBA Communications.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($1.64). SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The firm had revenue of $467.20 million for the quarter, compared to the consensus estimate of $459.17 million. During the same quarter last year, the business earned $1.75 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Shares of SBAC opened at $171.51 on Tuesday. SBA Communications has a 12-month low of $146.13 and a 12-month high of $177.67.
In other news, Director Duncan Cocroft sold 12,543 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $171.85, for a total transaction of $2,155,514.55. Following the transaction, the director now directly owns 75,742 shares of the company’s stock, valued at $13,016,262.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Stoops sold 40,000 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $160.05, for a total value of $6,402,000.00. Following the transaction, the chief executive officer now directly owns 252,180 shares in the company, valued at $40,361,409. The disclosure for this sale can be found here. Insiders have sold 529,017 shares of company stock worth $90,372,570 over the last three months. Corporate insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new position in shares of SBA Communications during the second quarter valued at $115,000. Virtus Alternative Investment Advisers Inc. acquired a new position in shares of SBA Communications during the third quarter valued at $128,000. Quantbot Technologies LP acquired a new position in shares of SBA Communications during the third quarter valued at $179,000. Cornerstone Wealth Management LLC acquired a new position in shares of SBA Communications during the second quarter valued at $193,000. Finally, HRT Financial LLC acquired a new position in shares of SBA Communications during the second quarter valued at $201,000. 94.25% of the stock is currently owned by institutional investors.
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.
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