SBA Communications Stock Rating Reaffirmed by Citigroup Inc. (SBAC)
SBA Communications (NASDAQ:SBAC)‘s stock had its “neutral” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. They currently have a $116.00 price target on the stock, up from their previous price target of $102.00. Citigroup Inc.’s target price would indicate a potential upside of 12.38% from the stock’s previous close.
Shares of SBA Communications (NASDAQ:SBAC) traded down 0.25% on Friday, hitting $103.22. 2,480,731 shares of the company’s stock traded hands. SBA Communications has a 52-week low of $71.10 and a 52-week high of $106.71. The stock’s 50-day moving average is $101. and its 200-day moving average is $95.66. The company’s market cap is $13.295 billion.
SBA Communications (NASDAQ:SBAC) last announced its earnings results on Thursday, July 24th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $1.32. The company had revenue of $383.40 million for the quarter, compared to the consensus estimate of $371.40 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts predict that SBA Communications will post $0.03 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $108.50.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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