SBA Communications Co. (NASDAQ:SBAC) Expected to Post Q3 2022 Earnings of $2.88 Per Share

SBA Communications Co. (NASDAQ:SBACGet Rating) – Analysts at KeyCorp boosted their Q3 2022 earnings per share (EPS) estimates for shares of SBA Communications in a research report issued on Tuesday, August 2nd. KeyCorp analyst B. Nispel now forecasts that the technology company will post earnings of $2.88 per share for the quarter, up from their previous estimate of $2.84. KeyCorp has a “Overweight” rating and a $389.00 price objective on the stock. The consensus estimate for SBA Communications’ current full-year earnings is $11.10 per share. KeyCorp also issued estimates for SBA Communications’ Q4 2022 earnings at $2.87 EPS, FY2022 earnings at $11.31 EPS, Q2 2023 earnings at $3.07 EPS, Q3 2023 earnings at $3.13 EPS, Q4 2023 earnings at $3.19 EPS and FY2023 earnings at $12.38 EPS.

A number of other brokerages also recently commented on SBAC. Jefferies Financial Group lowered their target price on SBA Communications from $383.00 to $347.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Raymond James upped their target price on SBA Communications from $385.00 to $410.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 26th. Morgan Stanley lowered their target price on SBA Communications from $389.00 to $361.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. The Goldman Sachs Group lowered their target price on SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $385.88.

SBA Communications Stock Down 0.3 %

Shares of SBAC opened at $345.40 on Friday. SBA Communications has a 52 week low of $286.41 and a 52 week high of $391.15. The company has a market capitalization of $37.24 billion, a price-to-earnings ratio of 106.93 and a beta of 0.43. The stock’s 50-day moving average price is $323.52 and its 200-day moving average price is $328.59.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The firm had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. During the same quarter in the previous year, the firm posted $2.64 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. purchased a new stake in SBA Communications in the first quarter valued at $25,000. Riverview Trust Co purchased a new stake in SBA Communications in the first quarter valued at $26,000. Curi Wealth Management LLC purchased a new stake in SBA Communications in the fourth quarter valued at $30,000. Crewe Advisors LLC purchased a new stake in SBA Communications in the second quarter valued at $26,000. Finally, Carolinas Wealth Consulting LLC raised its position in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 95.41% of the company’s stock.

Insider Transactions at SBA Communications

In other news, Director Duncan Cocroft sold 1,152 shares of SBA Communications stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $344.50, for a total value of $396,864.00. Following the sale, the director now directly owns 64,592 shares of the company’s stock, valued at $22,251,944. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Duncan Cocroft sold 1,152 shares of SBA Communications stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $344.50, for a total transaction of $396,864.00. Following the transaction, the director now owns 64,592 shares in the company, valued at $22,251,944. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 1,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total value of $338,050.00. Following the transaction, the executive vice president now owns 23,884 shares in the company, valued at approximately $8,073,986.20. The disclosure for this sale can be found here. Insiders have sold 37,912 shares of company stock valued at $13,038,108 over the last ninety days. Insiders own 1.80% of the company’s stock.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, August 24th. SBA Communications’s dividend payout ratio is presently 87.93%.

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

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