SBA Communications Given Average Recommendation of “Buy” by Brokerages (NASDAQ:SBAC)
SBA Communications (NASDAQ:SBAC) has received an average recommendation of “Buy” from the sixteen brokerages that are presently covering the stock, American Banking and Market News reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $107.92.
A number of research firms have recently commented on SBAC. Analysts at Credit Suisse initiated coverage on shares of SBA Communications in a research note on Friday, June 13th. They set a “neutral” rating and a $110.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of SBA Communications from $100.00 to $115.00 in a research note on Wednesday, May 21st. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity upgraded shares of SBA Communications in a research note on Tuesday, May 6th.
Shares of SBA Communications (NASDAQ:SBAC) traded down 0.77% on Friday, hitting $97.77. The stock had a trading volume of 267,570 shares. SBA Communications has a one year low of $70.55 and a one year high of $101.90. The stock’s 50-day moving average is $98.99 and its 200-day moving average is $92.98. The company’s market cap is $12.593 billion.
SBA Communications (NASDAQ:SBAC) last released its earnings data on Thursday, May 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $1.23. The company had revenue of $345.50 million for the quarter, compared to the consensus estimate of $334.60 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that SBA Communications will post $0.03 EPS for the current fiscal year.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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