SBA Communications (NASDAQ:SBAC) is set to issue its quarterly earnings data after the market closes on Monday, August 3rd. Analysts expect the company to announce earnings of $2.02 per share for the quarter. SBA Communications has set its FY 2020
After-Hours guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.08 by ($3.22). The company had revenue of $517.10 million during the quarter, compared to the consensus estimate of $512.93 million. SBA Communications had a negative net margin of 0.30% and a negative return on equity of 4.24%. SBA Communications’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. On average, analysts expect SBA Communications to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.
Shares of NASDAQ:SBAC opened at $311.54 on Friday. The company has a market cap of $34.77 billion, a price-to-earnings ratio of -3,893.76 and a beta of 0.41. The firm has a 50 day simple moving average of $300.14 and a 200 day simple moving average of $284.42. SBA Communications has a one year low of $205.20 and a one year high of $323.02.
In related news, CFO Brendan Thomas Cavanagh sold 67,223 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $318.16, for a total value of $21,387,669.68. Following the sale, the chief financial officer now owns 116,124 shares in the company, valued at $36,946,011.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Brian D. Lazarus sold 26,807 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $310.70, for a total value of $8,328,934.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,413 shares of company stock worth $65,957,183. Company insiders own 2.20% of the company’s stock.
Several equities analysts recently commented on the stock. KeyCorp downgraded shares of SBA Communications from an “overweight” rating to a “sector weight” rating in a research note on Monday, July 13th. Credit Suisse Group dropped their price objective on shares of SBA Communications from $365.00 to $361.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Deutsche Bank assumed coverage on shares of SBA Communications in a research note on Friday, June 5th. They issued a “buy” rating and a $345.00 price objective for the company. Barclays began coverage on shares of SBA Communications in a research note on Wednesday, July 15th. They issued an “equal weight” rating and a $308.00 price objective for the company. Finally, Royal Bank of Canada upped their price target on shares of SBA Communications from $313.00 to $317.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $316.75.
About SBA Communications
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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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