SBA Communications (SBAC) Earns Buy Rating from Barclays

SBA Communications (NASDAQ:SBAC)‘s stock had its “buy” rating reaffirmed by stock analysts at Barclays in a note issued to investors on Friday. They currently have a $178.00 target price on the technology company’s stock. Barclays’ price target suggests a potential upside of 7.36% from the stock’s current price.

Several other equities analysts have also commented on SBAC. KeyCorp raised shares of SBA Communications from a “sector weight” rating to an “overweight” rating and set a $170.00 target price on the stock in a report on Wednesday, September 27th. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Cowen reaffirmed a “buy” rating and set a $147.00 target price on shares of SBA Communications in a report on Tuesday, October 17th. UBS Group started coverage on shares of SBA Communications in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $165.07.

Shares of SBA Communications (NASDAQ SBAC) opened at $165.79 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. The firm has a market cap of $19,487.29, a price-to-earnings ratio of 207.24 and a beta of 0.77. SBA Communications has a 52-week low of $102.29 and a 52-week high of $173.97.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The company had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. During the same quarter last year, the firm earned ($0.12) EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. sell-side analysts expect that SBA Communications will post 0.97 earnings per share for the current year.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the sale, the director now owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in SBA Communications by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares during the last quarter. D.A. Davidson & CO. grew its holdings in SBA Communications by 18.8% in the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares during the last quarter. Toronto Dominion Bank grew its holdings in SBA Communications by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares during the last quarter. Suntrust Banks Inc. grew its holdings in SBA Communications by 2.6% in the 2nd quarter. Suntrust Banks Inc. now owns 6,751 shares of the technology company’s stock worth $910,000 after acquiring an additional 168 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in SBA Communications by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,497 shares of the technology company’s stock worth $607,000 after acquiring an additional 245 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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SBA Communications 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.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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