Wall Street analysts expect SBA Communications Corporation (NASDAQ:SBAC) to post sales of $430.88 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for SBA Communications Corporation’s earnings, with estimates ranging from $429.70 million to $432.43 million. SBA Communications Corporation reported sales of $411.32 million in the same quarter last year, which suggests a positive year over year growth rate of 4.8%. The business is expected to issue its next quarterly earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that SBA Communications Corporation will report full year sales of $430.88 million for the current financial year, with estimates ranging from $1.71 billion to $1.72 billion. For the next year, analysts forecast that the business will post sales of $1.82 billion per share, with estimates ranging from $1.80 billion to $1.84 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for SBA Communications Corporation.

SBA Communications Corporation (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 earnings per share.

Several equities analysts recently commented on the company. Citigroup Inc. raised their target price on SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Morgan Stanley restated an “overweight” rating and set a $159.00 target price (up previously from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. BidaskClub upgraded SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. KeyCorp upgraded SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 target price for the company in a research report on Wednesday. Finally, Zacks Investment Research upgraded SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 target price for the company in a research report on Thursday, July 20th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $147.36.

In other news, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 9,655 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total value of $1,358,844.70. Following the sale, the executive vice president now owns 21,403 shares of the company’s stock, valued at approximately $3,012,258.22. 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. 2.10% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Tealwood Asset Management Inc. grew its stake in shares of SBA Communications Corporation by 0.3% during the second quarter. Tealwood Asset Management Inc. now owns 12,115 shares of the technology company’s stock worth $1,634,000 after purchasing an additional 35 shares during the period. Cadence Capital Management LLC grew its stake in shares of SBA Communications Corporation by 0.8% during the second quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock worth $656,000 after purchasing an additional 40 shares during the period. Global X Management Co. LLC grew its stake in shares of SBA Communications Corporation by 3.9% during the first quarter. Global X Management Co. LLC now owns 1,856 shares of the technology company’s stock worth $223,000 after purchasing an additional 69 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of SBA Communications Corporation by 1.5% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,790 shares of the technology company’s stock worth $577,000 after purchasing an additional 70 shares during the period. Finally, Advisor Group Inc. grew its stake in shares of SBA Communications Corporation by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after purchasing an additional 114 shares during the period. 92.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Corporation (NASDAQ SBAC) opened at 144.05 on Friday. The stock’s 50 day moving average price is $145.77 and its 200 day moving average price is $132.98. The firm has a market capitalization of $17.34 billion, a PE ratio of 495.02 and a beta of 0.71. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $154.71.

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

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