SBA Communications Co. (NASDAQ:SBAC – Get Rating) – Equities researchers at KeyCorp lifted their Q3 2022 earnings per share (EPS) estimates for shares of SBA Communications in a report released on Tuesday, August 2nd. KeyCorp analyst B. Nispel now anticipates that the technology company will post earnings per share of $2.88 for the quarter, up from their previous estimate of $2.84. KeyCorp has a “Overweight” rating and a $389.00 price target on the stock. The consensus estimate for SBA Communications’ current full-year earnings is $11.10 per share. KeyCorp also issued estimates for SBA Communications’ Q4 2022 earnings at $2.87 EPS, FY2022 earnings at $11.31 EPS, Q2 2023 earnings at $3.07 EPS, Q3 2023 earnings at $3.13 EPS, Q4 2023 earnings at $3.19 EPS and FY2023 earnings at $12.38 EPS.
Several other research analysts have also commented on the company. Cowen boosted their price objective on SBA Communications from $373.00 to $382.00 in a report on Tuesday, April 26th. Raymond James boosted their price objective on SBA Communications from $385.00 to $410.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 26th. The Goldman Sachs Group cut their target price on SBA Communications from $424.00 to $381.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Finally, Moffett Nathanson lowered SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $393.00 to $380.00 in a research note on Monday, April 11th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.88.
SBA Communications Stock Down 0.3 %
SBA Communications (NASDAQ:SBAC – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The company had revenue of $652.01 million for the quarter, compared to the consensus estimate of $626.30 million. During the same quarter in the prior year, the company earned $2.64 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis.
SBA Communications Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.84 annualized dividend and a dividend yield of 0.82%. SBA Communications’s payout ratio is presently 87.93%.
In other news, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the transaction, the chief executive officer now directly owns 83,668 shares in the company, valued at $28,787,648.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the transaction, the chief executive officer now directly owns 83,668 shares in the company, valued at $28,787,648.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 1,000 shares of the stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total value of $338,050.00. Following the sale, the executive vice president now directly owns 23,884 shares in the company, valued at $8,073,986.20. The disclosure for this sale can be found here. Insiders sold 37,912 shares of company stock worth $13,038,108 over the last three months. 1.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On SBA Communications
Several institutional investors have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new position in SBA Communications in the first quarter worth about $25,000. Riverview Trust Co purchased a new position in SBA Communications in the first quarter worth about $26,000. Crewe Advisors LLC bought a new position in shares of SBA Communications in the second quarter worth about $26,000. Curi Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth about $30,000. Finally, AdvisorNet Financial Inc raised its stake in shares of SBA Communications by 52.5% in the second quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after buying an additional 32 shares during the period. 95.41% of the stock is owned by hedge funds and other institutional investors.
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 and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.
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