Zacks: Analysts Expect SBA Communications Co. (NASDAQ:SBAC) Will Post Quarterly Sales of $624.58 Million

Posted by on May 26th, 2022

Equities analysts expect SBA Communications Co. (NASDAQ:SBAC – Get Rating) to report sales of $624.58 million for the current quarter, Zacks reports. Seven analysts have made estimates for SBA Communications’ earnings, with the highest sales estimate coming in at $635.79 million and the lowest estimate coming in at $613.82 million. SBA Communications posted sales of $575.53 million in the same quarter last year, which suggests a positive year over year growth rate of 8.5%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that SBA Communications will report full-year sales of $2.52 billion for the current year, with estimates ranging from $2.51 billion to $2.53 billion. For the next financial year, analysts anticipate that the business will post sales of $2.61 billion, with estimates ranging from $2.57 billion to $2.66 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for SBA Communications.

SBA Communications (NASDAQ:SBAC – Get Rating) last released its earnings results on Monday, April 25th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.00 by $0.72. The firm had revenue of $619.77 million for the quarter, compared to the consensus estimate of $603.91 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share.

A number of research analysts have recently commented on the stock. Raymond James upped their price target on shares of SBA Communications from $385.00 to $410.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 26th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Barclays increased their target price on shares of SBA Communications from $378.00 to $385.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Moffett Nathanson cut shares of SBA Communications from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $393.00 to $380.00 in a report on Monday, April 11th. Finally, Cowen increased their target price on shares of SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $392.67.

In other news, EVP Kurt L. Bagwell sold 3,757 shares of the firm’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $330.00, for a total transaction of $1,239,810.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $328.88, for a total transaction of $164,440.00. The disclosure for this sale can be found here. Insiders sold a total of 6,149 shares of company stock valued at $2,061,835 over the last ninety days. 1.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of SBA Communications during the 1st quarter worth $25,000. Riverview Trust Co purchased a new position in shares of SBA Communications during the 1st quarter worth $26,000. Curi Wealth Management LLC purchased a new position in shares of SBA Communications during the 4th quarter worth $30,000. Bell Investment Advisors Inc purchased a new position in shares of SBA Communications during the 3rd quarter worth $27,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after acquiring an additional 62 shares during the period. 95.41% of the stock is currently owned by institutional investors and hedge funds.

SBAC stock opened at $346.36 on Thursday. The firm’s fifty day simple moving average is $343.49 and its two-hundred day simple moving average is $340.05. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 87.46 and a beta of 0.41. SBA Communications has a twelve month low of $286.41 and a twelve month high of $391.15.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Thursday, May 19th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, May 18th. SBA Communications’s payout ratio is currently 71.72%.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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