Research Analysts Set Expectations for SBA Communications Co.’s Q3 2022 Earnings (NASDAQ:SBAC)

SBA Communications Co. (NASDAQ:SBACGet Rating) – Investment analysts at KeyCorp upped their Q3 2022 earnings per share estimates for SBA Communications in a research report issued on Tuesday, August 2nd. KeyCorp analyst B. Nispel now expects that the technology company will post earnings of $2.88 per share for the quarter, up from their previous estimate of $2.84. KeyCorp has a “Overweight” rating and a $389.00 price objective on the stock. The consensus estimate for SBA Communications’ current full-year earnings is $11.08 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 brokerages also recently commented on SBAC. UBS Group raised their target price on SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Moffett Nathanson cut SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the company from $393.00 to $380.00 in a research report on Monday, April 11th. Credit Suisse Group increased their price target on SBA Communications from $405.00 to $408.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Barclays increased their price target on shares of SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $385.88.

SBA Communications Trading Up 0.7 %

Shares of SBAC opened at $346.28 on Friday. The firm’s fifty day simple moving average is $323.56 and its two-hundred day simple moving average is $328.45. The stock has a market capitalization of $37.34 billion, a P/E ratio of 107.21 and a beta of 0.43. SBA Communications has a 12 month low of $286.41 and a 12 month high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $626.30 million. During the same quarter last year, the firm posted $2.64 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.82%. SBA Communications’s dividend payout ratio (DPR) is presently 87.93%.

Insider Transactions at SBA Communications

In related news, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total value of $10,322,100.00. Following the sale, the chief executive officer now directly owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 30,000 shares of SBA Communications 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 owns 83,668 shares in the company, valued at approximately $28,787,648.76. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its position in SBA Communications by 7.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,079 shares of the technology company’s stock worth $665,000 after acquiring an additional 153 shares during the last quarter. Heritage Wealth Advisors raised its holdings in SBA Communications by 153.1% during the 2nd quarter. Heritage Wealth Advisors now owns 529 shares of the technology company’s stock valued at $169,000 after buying an additional 320 shares during the last quarter. Securian Asset Management Inc. boosted its position in SBA Communications by 32.1% during the 2nd quarter. Securian Asset Management Inc. now owns 34,759 shares of the technology company’s stock valued at $11,125,000 after buying an additional 8,453 shares during the period. Kinneret Advisory LLC increased its position in shares of SBA Communications by 2.2% in the second quarter. Kinneret Advisory LLC now owns 3,191 shares of the technology company’s stock valued at $1,021,000 after acquiring an additional 68 shares during the period. Finally, Angeles Wealth Management LLC bought a new position in shares of SBA Communications during the second quarter valued at about $995,000. 95.41% of the stock is owned by institutional investors.

SBA Communications Company Profile

(Get Rating)

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.

Further Reading

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

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