Wall Street brokerages expect SBA Communications Co. (NASDAQ:SBAC) to report earnings of $0.18 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for SBA Communications’ earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.25. SBA Communications posted earnings of $0.04 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 350%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, February 26th.
On average, analysts expect that SBA Communications will report full-year earnings of $0.97 per share for the current financial year, with EPS estimates ranging from $0.91 to $1.04. For the next financial year, analysts forecast that the company will report earnings of $1.33 per share, with EPS estimates ranging from $0.90 to $1.73. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for SBA Communications.
Several research analysts have issued reports on the company. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Barclays reissued a “buy” rating and issued a $178.00 target price on shares of SBA Communications in a research report on Friday, January 19th. BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. KeyCorp reissued an “overweight” rating and issued a $192.00 target price (up from $179.00) on shares of SBA Communications in a research report on Monday, November 27th. Finally, Guggenheim set a $172.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. SBA Communications currently has a consensus rating of “Buy” and an average target price of $165.07.
A number of institutional investors and hedge funds have recently modified their holdings of SBAC. Janus Henderson Group PLC raised its stake in SBA Communications by 109.7% during the 2nd quarter. Janus Henderson Group PLC now owns 34,168 shares of the technology company’s stock valued at $4,609,000 after purchasing an additional 17,871 shares during the period. The Manufacturers Life Insurance Company raised its stake in SBA Communications by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,497 shares of the technology company’s stock valued at $607,000 after purchasing an additional 245 shares during the period. WINTON GROUP Ltd bought a new stake in SBA Communications during the 2nd quarter valued at approximately $215,000. Toronto Dominion Bank raised its stake in SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after purchasing an additional 129 shares during the period. Finally, Intl Fcstone Inc. bought a new stake in SBA Communications during the 2nd quarter valued at approximately $458,000. 95.59% of the stock is currently owned by institutional investors.
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About SBA Communications
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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