SBA Communications Co. (SBAC) Forecasted to Post Q2 2018 Earnings of $0.38 Per Share
SBA Communications Co. (NASDAQ:SBAC) – Equities researchers at SunTrust Banks upped their Q2 2018 earnings estimates for SBA Communications in a report released on Wednesday. SunTrust Banks analyst G. Miller now expects that the technology company will earn $0.38 per share for the quarter, up from their previous forecast of $0.35. SunTrust Banks also issued estimates for SBA Communications’ Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.57 EPS and Q3 2019 earnings at $0.61 EPS.
SBAC has been the topic of several other research reports. KeyCorp restated a “buy” rating and issued a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. Royal Bank of Canada restated a “buy” rating and issued a $200.00 target price on shares of SBA Communications in a report on Thursday, November 30th. BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. UBS started coverage on shares of SBA Communications in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $159.00 target price (up previously from $147.00) on shares of SBA Communications in a report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $159.40.
Shares of SBA Communications (NASDAQ SBAC) traded down $0.94 during mid-day trading on Monday, reaching $165.67. 878,600 shares of the company traded hands, compared to its average volume of 1,194,939. SBA Communications has a 52 week low of $100.31 and a 52 week high of $173.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The stock has a market capitalization of $19,583.67, a PE ratio of 208.26 and a beta of 0.77.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in shares of SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after purchasing an additional 120 shares during the period. Creative Planning raised its position in shares of SBA Communications by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after purchasing an additional 253 shares during the period. Sun Life Financial INC bought a new stake in shares of SBA Communications during the 3rd quarter valued at $127,000. Acadian Asset Management LLC bought a new stake in shares of SBA Communications during the 2nd quarter valued at $159,000. Finally, Advisor Group Inc. raised its position in shares of SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.
In other news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.
About SBA Communications
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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