SBA Communications Corp. Upgraded to “Outperform” at Zacks (SBAC)
SBA Communications Corp. (NASDAQ:SBAC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, StockRatingsNetwork reports. The firm currently has a $93.00 price objective on the stock. Zacks‘ target price suggests a potential upside of 4.35% from the company’s current price.
A number of other analysts have also recently weighed in on SBAC. Analysts at Macquarie upgraded shares of SBA Communications Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 19th. Separately, analysts at Jefferies Group initiated coverage on shares of SBA Communications Corp. in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “buy” rating on shares of SBA Communications Corp. in a research note to investors on Thursday, November 14th. They now have a $107.00 price target on the stock. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $98.73.
Shares of SBA Communications Corp. (NASDAQ:SBAC) traded up 1.20% on Tuesday, hitting $90.19. The stock had a trading volume of 822,622 shares. SBA Communications Corp. has a one year low of $66.68 and a one year high of $92.21. The stock’s 50-day moving average is $87.14 and its 200-day moving average is $81.23. The company’s market cap is $11.579 billion.
SBA Communications Corp. (NASDAQ:SBAC) last announced its earnings results on Monday, November 4th. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.28. The company had revenue of $332.09 million for the quarter, compared to the consensus estimate of $322.27 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The company’s quarterly revenue was up 39.2% on a year-over-year basis. On average, analysts predict that SBA Communications Corp. will post $-0.39 earnings per share for the current fiscal year.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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