SBA Communications Corporation (NASDAQ:SBAC), Rental and leasing services provider, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SBA Communications Corporation (NASDAQ:SBAC)’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that SBA Communications could be a solid choice for investors.
Current Quarter Estimates for SBAC
In the past 30 days, one estimate has gone higher for SBA Communications Corporation (NASDAQ:SBAC). While there were no estimates moved down the same time period. The consensus estimate trend has been pretty favorable, with estimates narrowing from a loss of 14 cents a share 30 days ago to a loss of 10 cents today, a move of 28.5%.
Current Year Estimates for SBAC
Meanwhile, SBA Communications Corporation (NASDAQ:SBAC)’s current year figures are also looking quite promising, with one estimate moving higher in the past month. While there has not been any downward estimate revision. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 54 cents per share 30 days ago to a loss of 43 cents per share today, an increase of 20%.
The stock has also started to move higher lately, adding 5.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
Disclaimer: This article is written by Zacks Equity Research and originally published at Zacks.com.