SBA Communications (SBAC) Scheduled to Post Quarterly Earnings on Monday

SBA Communications (NASDAQ:SBAC) will be posting its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect SBA Communications to post earnings of $3.17 per share for the quarter. SBA Communications has set its FY24 guidance at $13.06-13.43 EPS and its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter last year, the business earned $3.24 earnings per share. SBA Communications’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts expect SBA Communications to post $13 EPS for the current fiscal year and $12 EPS for the next fiscal year.

SBA Communications Price Performance

NASDAQ SBAC opened at $241.79 on Friday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock’s 50-day moving average is $236.84 and its two-hundred day moving average is $213.55. The firm has a market cap of $25.99 billion, a P/E ratio of 51.01, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen cut their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. BMO Capital Markets lowered their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. KeyCorp raised their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $251.58.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 over the last three months. 1.30% of the stock is owned by corporate insiders.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.