SBA Communications Corporation’s (SBAC) “Buy” Rating Reaffirmed at KeyCorp
SBA Communications Corporation (NASDAQ:SBAC)‘s stock had its “buy” rating reaffirmed by KeyCorp in a research note issued on Wednesday. They presently have a $179.00 price objective on the technology company’s stock. KeyCorp’s price objective suggests a potential upside of 8.71% from the stock’s previous close. KeyCorp also issued estimates for SBA Communications Corporation’s Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $1.04 EPS, Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.17 EPS.
Several other research firms have also weighed in on SBAC. Citigroup Inc. increased their price target on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Cowen and Company restated a “buy” rating and set a $147.00 price target on shares of SBA Communications Corporation in a research report on Tuesday, October 17th. UBS AG began coverage on shares of SBA Communications Corporation in a research report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $159.00 price target (up previously from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. SBA Communications Corporation currently has an average rating of “Buy” and an average price target of $149.67.
SBA Communications Corporation (SBAC) traded up $10.13 during midday trading on Wednesday, hitting $164.66. 1,465,797 shares of the stock traded hands, compared to its average volume of 1,173,161. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $159.14. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market cap of $18,300.68, a price-to-earnings ratio of 193.16 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last posted its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. equities analysts forecast that SBA Communications Corporation will post 0.97 EPS for the current fiscal year.
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In other SBA Communications Corporation news, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the sale, the senior vice president now directly owns 17,525 shares of the company’s stock, valued at $2,660,119.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in SBAC. D.A. Davidson & CO. lifted its holdings in shares of SBA Communications Corporation by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares in the last quarter. Creative Planning lifted its holdings in shares of SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of SBA Communications Corporation in the second quarter worth about $159,000. Advisor Group Inc. lifted its holdings in shares of SBA Communications Corporation by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares in the last quarter. Finally, 1ST Source Bank purchased a new stake in shares of SBA Communications Corporation in the second quarter worth about $201,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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