FY2018 EPS Estimates for SBA Communications Co. Raised by SunTrust Banks (SBAC)

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.

Several other equities research analysts also recently commented on SBAC. BidaskClub downgraded shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Citigroup raised shares of SBA Communications from a “neutral” rating to a “buy” rating and increased their target price for the company from $175.00 to $187.00 in a research report on Wednesday, October 31st. ValuEngine downgraded shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Zacks Investment Research upgraded shares of SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Deutsche Bank upped their price target on shares of SBA Communications from $170.00 to $183.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $179.80.

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.

Featured Article: How to Invest in an Index Fund

Earnings History and Estimates for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply