SBA Communications Corp. (NASDAQ:SBAC) will be posting its quarterly earnings results after the market closes on Thursday, July 28th. Analysts expect SBA Communications Corp. to post earnings of $0.14 per share for the quarter.
SBA Communications Corp. (NASDAQ:SBAC) last released its earnings results on Monday, May 2nd. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $1.40. The business had revenue of $399.80 million for the quarter. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 EPS. On average, analysts expect SBA Communications Corp. to post $0.87 EPS for the current fiscal year and $1.18 EPS for the next fiscal year.
Several brokerages have recently weighed in on SBAC. Deutsche Bank AG lowered their target price on SBA Communications Corp. from $106.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, May 27th. Morgan Stanley restated a “buy” rating and set a $121.00 target price on shares of SBA Communications Corp. in a research note on Friday, April 29th. Moffett Nathanson lifted their price target on SBA Communications Corp. from $133.00 to $135.00 in a research note on Wednesday, March 30th. JPMorgan Chase & Co. downgraded SBA Communications Corp. from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $120.00 to $115.00 in a research note on Tuesday, May 3rd. Finally, Stifel Nicolaus lifted their price target on SBA Communications Corp. from $112.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, May 3rd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. SBA Communications Corp. currently has an average rating of “Buy” and an average price target of $123.47.
In other SBA Communications Corp. news, Director Duncan Cocroft purchased 1,000 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of $100.16 per share, with a total value of $100,160.00. Following the completion of the acquisition, the director now owns 82,125 shares in the company, valued at approximately $8,225,640. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
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.
