SBA Communications Co. (NASDAQ:SBAC) – Investment analysts at SunTrust Banks raised their FY2018 earnings per share (EPS) estimates for shares of SBA Communications in a research note issued to investors on Tuesday, November 6th. SunTrust Banks analyst G. Miller now expects that the technology company will post earnings per share of $7.18 for the year, up from their prior estimate of $7.07. SunTrust Banks also issued estimates for SBA Communications’ Q4 2018 earnings at $1.86 EPS, Q1 2019 earnings at $1.95 EPS, Q2 2019 earnings at $1.99 EPS, Q3 2019 earnings at $2.12 EPS, Q4 2019 earnings at $2.15 EPS and FY2019 earnings at $8.22 EPS.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($1.64). The firm had revenue of $467.20 million during the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. SBA Communications’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 EPS.
Shares of NASDAQ SBAC opened at $171.51 on Friday. SBA Communications has a 1-year low of $146.13 and a 1-year high of $177.67.
Large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board grew its holdings in shares of SBA Communications by 9.3% in the third quarter. Canada Pension Plan Investment Board now owns 1,876,210 shares of the technology company’s stock worth $301,376,000 after purchasing an additional 159,589 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in SBA Communications by 16.7% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 8,645 shares of the technology company’s stock worth $1,389,000 after acquiring an additional 1,238 shares in the last quarter. American International Group Inc. grew its holdings in SBA Communications by 5.1% during the 3rd quarter. American International Group Inc. now owns 46,245 shares of the technology company’s stock worth $7,428,000 after acquiring an additional 2,244 shares in the last quarter. BlackRock Inc. grew its holdings in SBA Communications by 3.0% during the 3rd quarter. BlackRock Inc. now owns 9,814,117 shares of the technology company’s stock worth $1,576,444,000 after acquiring an additional 282,230 shares in the last quarter. Finally, CI Investments Inc. grew its holdings in SBA Communications by 7.7% during the 3rd quarter. CI Investments Inc. now owns 47,600 shares of the technology company’s stock worth $7,646,000 after acquiring an additional 3,400 shares in the last quarter. 94.37% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Jeffrey Stoops sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $154.16, for a total transaction of $6,166,400.00. Following the completion of the sale, the chief executive officer now directly owns 268,756 shares in the company, valued at $41,431,424.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian C. Carr sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total transaction of $124,000.00. Following the sale, the director now owns 3,070 shares of the company’s stock, valued at $475,850. The disclosure for this sale can be found here. Insiders sold 180,590 shares of company stock valued at $29,648,300 over the last ninety days. Corporate insiders own 2.70% of the company’s stock.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses site leasing and site development services.
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