The headline numbers for SBA Communications (SBAC) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
SBA Communications (SBAC) came out with quarterly funds from operations (FFO) of $3.32 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $3.34 per share a year ago.
SBA Communications raised its annual forecast for adjusted funds from operations on Monday, anticipating a steady wireless carrier activity on the back of growing demand for 5G network.
SBAC's Q3 earnings are likely to have been affected by ongoing consolidation in the wireless industry and higher churn.
Besides Wall Street's top -and-bottom-line estimates for SBA Communications (SBAC), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended September 2024.
The Fed easing monetary conditions impacts cell tower REITs considerably given the capital intensity of investments and the dividends they pay. Utilizing a higher level of debt, lower rates should have a better impact on SBAC Communications, namely on profitability and FFO, meaning it deserves better. Also, a comparison with peers indicates its capital structure may be more suitable for the current environment without forgetting the growth drivers likely to offset weakness.
SBA Communications (SBAC) was a big mover last session on higher-than-average trading volume. The latest trend in FFO estimate revisions might not help the stock continue moving higher in the near term.
SBAC is set for healthy growth with extensive infrastructure assets amid rising consumer demand and adoption of data-driven mobile devices and applications.
SBA Communications (SBAC) reported earnings 30 days ago. What's next for the stock?
SBA Communications (SBAC) is likely to experience healthy growth momentum with solid demand for its extensive infrastructure assets, driven by the rising adoption of data-driven mobile devices and applications.
SBA Communications (SBAC) is likely to benefit from the rising adoption of data-driven devices and applications. However, high customer concentration and the ongoing consolidation in the wireless industry are concerns.
SBA Communications' (SBAC) Q2 results reflect a year-over-year site-leasing revenue growth on healthy leasing activity.