SBA Communications Corporation (SBAC) Stock Price Up 6.4%
SBA Communications Corporation (NASDAQ:SBAC) rose 6.4% during trading on Tuesday . The stock traded as high as $167.44 and last traded at $164.42. Approximately 2,395,996 shares were traded during trading, an increase of 105% from the average daily volume of 1,170,000 shares. The stock had previously closed at $154.53.
SBAC has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating on shares of SBA Communications Corporation in a research note on Wednesday, August 2nd. BidaskClub raised SBA Communications Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Stifel Nicolaus reissued a “buy” rating and set a $160.00 price target (up previously from $148.00) on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Jefferies Group LLC boosted their price target on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Cowen and Company reissued a “buy” rating and set a $147.00 price target on shares of SBA Communications Corporation in a research note on Tuesday, October 17th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. SBA Communications Corporation currently has an average rating of “Buy” and an average target price of $150.27.
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 firm has a market cap of $19,470.00, a PE ratio of 193.16 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data 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. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The firm had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. During the same period in the previous year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. analysts anticipate that SBA Communications Corporation will post 0.97 earnings per share for the current fiscal year.
In related news, SVP Brian D. Lazarus sold 7,376 shares of SBA Communications Corporation stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the transaction, the senior vice president now directly owns 17,525 shares in the company, valued at approximately $2,660,119.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. raised its position in shares of SBA Communications Corporation by 18.8% during the 2nd 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. Creative Planning raised its position in shares of SBA Communications Corporation by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of SBA Communications Corporation during the 2nd quarter worth approximately $159,000. Advisor Group Inc. raised its holdings in SBA Communications Corporation by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after acquiring an additional 114 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in SBA Communications Corporation by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after acquiring an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
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About SBA Communications Corporation
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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