SBA Communications Co. (NASDAQ:SBAC) – Research analysts at Jefferies Financial Group issued their Q1 2021 earnings estimates for SBA Communications in a research report issued to clients and investors on Monday, April 12th. Jefferies Financial Group analyst J. Petersen anticipates that the technology company will post earnings of $2.27 per share for the quarter. Jefferies Financial Group currently has a “Buy” rating and a $335.00 price target on the stock. Jefferies Financial Group also issued estimates for SBA Communications’ Q2 2021 earnings at $2.28 EPS, Q3 2021 earnings at $2.40 EPS, Q4 2021 earnings at $2.46 EPS, FY2021 earnings at $9.41 EPS, Q1 2022 earnings at $2.54 EPS, Q2 2022 earnings at $2.52 EPS, Q3 2022 earnings at $2.69 EPS, Q4 2022 earnings at $2.71 EPS and FY2022 earnings at $10.46 EPS.
Other equities research analysts have also recently issued reports about the stock. Raymond James raised shares of SBA Communications from an “outperform” rating to a “strong-buy” rating and set a $309.00 price objective for the company in a research report on Thursday, March 11th. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $272.00 price objective on the stock in a report on Friday, February 26th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of SBA Communications from $335.00 to $325.00 and set a “buy” rating on the stock in a research note on Monday, March 1st. JPMorgan Chase & Co. downgraded shares of SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 target price on the stock. in a research report on Monday, February 8th. Finally, Barclays upped their price objective on shares of SBA Communications from $305.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. SBA Communications currently has an average rating of “Buy” and a consensus price target of $312.69.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Sunday, February 21st. The technology company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.42. The company had revenue of $536.00 million for the quarter, compared to analyst estimates of $530.25 million. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Wednesday, March 10th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Tuesday, March 9th. This is a boost from SBA Communications’s previous quarterly dividend of $0.47. SBA Communications’s dividend payout ratio (DPR) is 27.33%.
In other SBA Communications news, Director Kevin L. Beebe sold 826 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $259.46, for a total value of $214,313.96. Following the completion of the sale, the director now owns 15,107 shares of the company’s stock, valued at $3,919,662.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kurt L. Bagwell sold 4,278 shares of the business’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $246.09, for a total transaction of $1,052,773.02. Following the sale, the executive vice president now owns 33,710 shares in the company, valued at $8,295,693.90. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SBAC. ExodusPoint Capital Management LP grew its position in SBA Communications by 482.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,383 shares of the technology company’s stock worth $4,622,000 after buying an additional 13,570 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of SBA Communications by 2.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,021 shares of the technology company’s stock worth $5,649,000 after acquiring an additional 517 shares during the period. IBM Retirement Fund increased its stake in SBA Communications by 14.2% in the 4th quarter. IBM Retirement Fund now owns 4,106 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 512 shares in the last quarter. Great West Life Assurance Co. Can raised its holdings in SBA Communications by 8.6% during the third quarter. Great West Life Assurance Co. Can now owns 124,685 shares of the technology company’s stock worth $39,649,000 after purchasing an additional 9,886 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in SBA Communications by 1.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 98,690 shares of the technology company’s stock worth $27,843,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.
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 and South Africa. By ÂBuilding Better Wireless,Â SBA generates revenue from two primary businesses Â- site leasing and site development services.
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