SBA Communications Co. (NASDAQ:SBAC) EVP Jason V. Silberstein sold 19,785 shares of SBA Communications stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $165.13, for a total value of $3,267,097.05. Following the transaction, the executive vice president now owns 28,659 shares of the company’s stock, valued at $4,732,460.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of NASDAQ:SBAC traded down $0.35 during trading on Thursday, reaching $170.26. 497,797 shares of the company traded hands, compared to its average volume of 908,372. SBA Communications Co. has a 52 week low of $146.13 and a 52 week high of $177.67.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.78 by ($1.64). The company had revenue of $467.20 million for the quarter, compared to the consensus estimate of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, research analysts expect that SBA Communications Co. will post 7.1 earnings per share for the current year.
Several analysts recently issued reports on the company. Citigroup boosted their price target on SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Guggenheim set a $180.00 price target on SBA Communications and gave the company a “buy” rating in a research note on Wednesday, October 17th. ValuEngine upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Macquarie reduced their price target on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $179.80.
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About SBA Communications
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses site leasing and site development services.
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