SBA Communications Co. (SBAC) Given Consensus Recommendation of “Buy” by Analysts
Shares of SBA Communications Co. (NASDAQ:SBAC) have earned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $160.62.
A number of equities research analysts have recently weighed in on the company. Cowen reiterated a “buy” rating and issued a $170.00 price objective (up from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. Citigroup lifted their price objective on SBA Communications from $140.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Morgan Stanley lifted their price objective on SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 14th. KeyCorp reiterated an “overweight” rating and issued a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research report on Monday, November 27th. Finally, BidaskClub lowered SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the sale, the director now directly owns 11,999 shares in the company, valued at $2,033,950.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.
A number of large investors have recently made changes to their positions in SBAC. Cadence Capital Management LLC raised its stake in shares of SBA Communications by 0.8% in the second quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock worth $656,000 after purchasing an additional 40 shares during the last quarter. Advisor Group Inc. raised its stake in shares of SBA Communications 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 purchasing an additional 114 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of SBA Communications 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 purchasing an additional 120 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of SBA Communications by 9.5% in the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after purchasing an additional 129 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of SBA Communications by 2.6% in the second quarter. Suntrust Banks Inc. now owns 6,751 shares of the technology company’s stock worth $910,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 96.00% of the company’s stock.
Shares of SBA Communications (NASDAQ:SBAC) traded up $2.38 during trading on Monday, reaching $160.22. The company’s stock had a trading volume of 603,200 shares, compared to its average volume of 1,194,836. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The stock has a market cap of $18,550.00, a PE ratio of 190.74 and a beta of 0.77. SBA Communications has a 1-year low of $102.06 and a 1-year high of $173.97.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. sell-side analysts forecast that SBA Communications will post 0.97 earnings per share for the current year.
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About SBA Communications
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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