Q1 2023 Earnings Forecast for SBA Communications Co. Issued By KeyCorp (NASDAQ:SBAC)

SBA Communications Co. (NASDAQ:SBACGet Rating) – Investment analysts at KeyCorp upped their Q1 2023 EPS estimates for SBA Communications in a research note issued on Sunday, January 22nd. KeyCorp analyst B. Nispel now forecasts that the technology company will post earnings per share of $2.93 for the quarter, up from their prior forecast of $2.92. KeyCorp has a “Overweight” rating and a $319.00 price target on the stock. The consensus estimate for SBA Communications’ current full-year earnings is $11.35 per share. KeyCorp also issued estimates for SBA Communications’ Q3 2023 earnings at $2.89 EPS and FY2024 earnings at $12.64 EPS.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. The company had revenue of $675.60 million for the quarter, compared to analyst estimates of $651.42 million. During the same quarter in the prior year, the company posted $2.71 EPS. SBA Communications’s revenue for the quarter was up 14.6% on a year-over-year basis.

SBAC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $323.00 to $325.00 in a report on Friday, December 2nd. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Raymond James upped their target price on shares of SBA Communications from $308.00 to $334.00 and gave the stock a “strong-buy” rating in a report on Wednesday, November 23rd. Wells Fargo & Company upped their target price on shares of SBA Communications from $300.00 to $340.00 in a report on Wednesday, December 14th. Finally, Royal Bank of Canada lowered their target price on shares of SBA Communications from $370.00 to $330.00 and set an “outperform” rating on the stock in a report on Monday, November 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $340.20.

SBA Communications Trading Up 0.4 %

Shares of NASDAQ SBAC opened at $287.41 on Tuesday. The firm’s 50-day moving average price is $290.98 and its 200-day moving average price is $299.77. SBA Communications has a 1-year low of $236.20 and a 1-year high of $379.99. The firm has a market capitalization of $31.03 billion, a P/E ratio of 77.47 and a beta of 0.49.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Wednesday, November 16th. SBA Communications’s dividend payout ratio is currently 76.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its position in shares of SBA Communications by 246.2% during the 4th quarter. Allworth Financial LP now owns 90 shares of the technology company’s stock valued at $25,000 after acquiring an additional 64 shares during the period. Crewe Advisors LLC bought a new position in SBA Communications in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in SBA Communications by 71.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock worth $26,000 after buying an additional 38 shares during the period. Whittier Trust Co. boosted its holdings in SBA Communications by 131.8% in the 3rd quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock worth $29,000 after buying an additional 58 shares during the period. Finally, Private Trust Co. NA bought a new position in SBA Communications in the 2nd quarter worth approximately $30,000. 93.54% of the stock is owned by institutional investors.

About SBA Communications

(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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