SBA Communications Corporation (NASDAQ:SBAC) has been given a consensus recommendation of “Buy” by the eighteen research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $149.71.
SBAC has been the topic of several analyst reports. Citigroup Inc. lifted their price target on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price target on the stock in a research note on Thursday, July 20th. Deutsche Bank AG restated a “hold” rating and set a $150.00 target price (up previously from $133.00) on shares of SBA Communications Corporation in a research note on Friday, July 14th. Morgan Stanley restated an “overweight” rating and set a $159.00 target price (up previously from $147.00) on shares of SBA Communications Corporation in a research note on Thursday, August 24th. Finally, UBS AG initiated coverage on shares of SBA Communications Corporation in a research note on Wednesday, October 18th. They set a “buy” rating and a $176.00 target price on the stock.
In other news, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total value of $1,119,603.04. Following the sale, the senior vice president now directly owns 17,525 shares in the company, valued at approximately $2,660,119.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.
A number of large investors have recently modified their holdings of SBAC. Teachers Advisors LLC grew its holdings in SBA Communications Corporation by 18.4% during the 1st quarter. Teachers Advisors LLC now owns 150,834 shares of the technology company’s stock valued at $18,156,000 after purchasing an additional 23,444 shares during the last quarter. HighTower Advisors LLC bought a new position in SBA Communications Corporation in the 1st quarter worth about $496,000. Xact Kapitalforvaltning AB bought a new position in SBA Communications Corporation in the 2nd quarter worth about $3,137,000. Capstone Asset Management Co. grew its stake in SBA Communications Corporation by 8.7% in the 2nd quarter. Capstone Asset Management Co. now owns 3,111 shares of the technology company’s stock worth $420,000 after acquiring an additional 250 shares in the last quarter. Finally, Creative Planning grew its stake in SBA Communications Corporation by 40.7% in the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after acquiring an additional 253 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.
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SBA Communications Corporation (NASDAQ SBAC) traded down $0.56 during trading hours on Friday, reaching $168.95. 698,677 shares of the company’s stock were exchanged, compared to its average volume of 1,210,470. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32. SBA Communications Corporation has a fifty-two week low of $95.66 and a fifty-two week high of $170.82. The company has a market cap of $20,073.55, a P/E ratio of 211.88 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ 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 Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. equities analysts predict that SBA Communications Corporation will post 0.97 earnings per share for the current year.
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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