SBA Communications Corporation (NASDAQ:SBAC) – SunTrust Banks decreased their Q4 2017 earnings estimates for SBA Communications Corporation in a report issued on Tuesday. SunTrust Banks analyst G. Miller now anticipates that the technology company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.26. SunTrust Banks also issued estimates for SBA Communications Corporation’s Q1 2018 earnings at $0.36 EPS, Q2 2018 earnings at $0.35 EPS and Q4 2018 earnings at $0.44 EPS.
SBA Communications Corporation (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The company had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS.
A number of other research analysts also recently issued reports on the company. Citigroup Inc. boosted their price target on SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Zacks Investment Research raised SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price target for the company in a report on Thursday, July 20th. Deutsche Bank AG reissued a “hold” rating and issued a $150.00 price target (up from $133.00) on shares of SBA Communications Corporation in a report on Friday, July 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $159.00 target price (up from $147.00) on shares of SBA Communications Corporation in a research note on Thursday, August 24th. Finally, KeyCorp raised SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 target price for the company in a research note on Wednesday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. SBA Communications Corporation has an average rating of “Buy” and a consensus target price of $149.67.
Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in shares of SBA Communications Corporation by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after purchasing an additional 129 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of SBA Communications Corporation during the second quarter worth approximately $3,137,000. SG Americas Securities LLC increased its position in shares of SBA Communications Corporation by 160.5% during the second quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock worth $1,704,000 after purchasing an additional 7,781 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of SBA Communications Corporation during the second quarter worth approximately $3,475,000. Finally, Eagle Asset Management Inc. increased its position in shares of SBA Communications Corporation by 14.1% during the second quarter. Eagle Asset Management Inc. now owns 361,554 shares of the technology company’s stock worth $48,773,000 after purchasing an additional 44,693 shares in the last quarter. Hedge funds and other institutional investors own 92.54% of the company’s stock.
In related news, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now directly owns 17,525 shares in the company, valued at $2,660,119.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.
About SBA Communications Corporation
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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