SBA Communications Co. (NASDAQ:SBAC) – Investment analysts at SunTrust Banks reduced their FY2018 earnings per share (EPS) estimates for SBA Communications in a note issued to investors on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the technology company will earn $1.48 per share for the year, down from their previous forecast of $1.49. SunTrust Banks also issued estimates for SBA Communications’ Q4 2018 earnings at $0.41 EPS and FY2019 earnings at $2.31 EPS.

A number of other research analysts have also commented on SBAC. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $159.00 price target (up from $147.00) on shares of SBA Communications in a report on Thursday, August 24th. Citigroup upped their target price on SBA Communications from $140.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, August 28th. KeyCorp upgraded SBA Communications 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. Finally, Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $159.40.

SBA Communications (SBAC) opened at $165.19 on Friday. SBA Communications has a 1-year low of $97.82 and a 1-year high of $173.97. The company has a market capitalization of $19,591.90, a P/E ratio of 208.35 and a beta of 0.77. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the transaction, the director now directly owns 11,999 shares in the company, valued at $2,033,950.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SBAC. Iridian Asset Management LLC CT raised its stake in SBA Communications by 88.1% during the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after acquiring an additional 1,237,008 shares in the last quarter. PointState Capital LP bought a new stake in shares of SBA Communications during the second quarter worth $149,091,000. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 147,836.3% during the second quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after purchasing an additional 687,439 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of SBA Communications by 41.4% during the second quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after purchasing an additional 652,647 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of SBA Communications by 1,343.6% during the second quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after purchasing an additional 611,497 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

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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.

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

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