Brokerages predict that SBA Communications Co. (NASDAQ:SBAC) will post sales of $592.33 million for the current quarter, according to Zacks. Six analysts have made estimates for SBA Communications’ earnings, with estimates ranging from $588.05 million to $595.70 million. SBA Communications posted sales of $535.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.5%. The company is expected to report its next earnings report after the market closes on Monday, February 28th.
On average, analysts expect that SBA Communications will report full year sales of $2.31 billion for the current financial year, with estimates ranging from $2.30 billion to $2.31 billion. For the next financial year, analysts expect that the business will report sales of $2.43 billion, with estimates ranging from $2.40 billion to $2.48 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover SBA Communications.
Several brokerages have recently weighed in on SBAC. Cowen upped their price objective on SBA Communications from $347.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday, November 2nd. KeyCorp raised their price target on SBA Communications from $373.00 to $379.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 2nd. Barclays lowered their target price on SBA Communications from $378.00 to $376.00 and set an “overweight” rating on the stock in a research report on Friday, January 14th. Credit Suisse Group boosted their price target on SBA Communications from $384.00 to $386.00 and gave the company an “outperform” rating in a research note on Tuesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on SBA Communications from $359.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, November 3rd. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $379.14.
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Shares of SBAC stock opened at $318.08 on Friday. The business has a fifty day simple moving average of $347.01 and a 200-day simple moving average of $347.19. SBA Communications has a fifty-two week low of $232.88 and a fifty-two week high of $391.15. The stock has a market cap of $34.85 billion, a P/E ratio of 120.94 and a beta of 0.31.
In related news, EVP Mark R. Ciarfella sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The shares were sold at an average price of $370.00, for a total value of $1,110,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 1,000 shares of the business’s stock in a transaction on Friday, November 19th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,087 shares of company stock worth $2,954,776. Corporate insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of SBA Communications by 10.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,201 shares of the technology company’s stock worth $6,438,000 after buying an additional 1,925 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of SBA Communications during the second quarter worth $139,000. Stifel Financial Corp raised its stake in shares of SBA Communications by 2.9% during the 2nd quarter. Stifel Financial Corp now owns 42,317 shares of the technology company’s stock worth $13,488,000 after buying an additional 1,182 shares during the last quarter. LPL Financial LLC increased its position in SBA Communications by 13.0% during the 2nd quarter. LPL Financial LLC now owns 41,618 shares of the technology company’s stock worth $13,264,000 after purchasing an additional 4,795 shares in the last quarter. Finally, Lincoln National Corp grew its holdings in SBA Communications by 9.4% in the 2nd quarter. Lincoln National Corp now owns 1,328 shares of the technology company’s stock valued at $423,000 after buying an additional 114 shares during the period. Institutional investors own 93.52% of the company’s stock.
About SBA Communications
SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.
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