SBA Communications Given Consensus Rating of “Buy” by Brokerages (NASDAQ:SBAC)
Shares of SBA Communications (NASDAQ:SBAC) have earned an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the company, Analyst Ratings Net reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $114.33.
In other SBA Communications news, Director George R. Krouse, Jr. unloaded 2,000 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $106.99, for a total value of $213,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SBA Communications (NASDAQ:SBAC) opened at 106.17 on Wednesday. SBA Communications has a 1-year low of $71.10 and a 1-year high of $109.52. The stock’s 50-day moving average is $102.3 and its 200-day moving average is $96.33. The company’s market cap is $13.707 billion.
SBA Communications (NASDAQ:SBAC) last released its earnings data 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.
A number of research firms have recently commented on SBAC. Analysts at Jefferies Group reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, July 29th. They now have a $120.00 price target on the stock, up previously from $115.00. Separately, analysts at Raymond James raised their price target on shares of SBA Communications from $118.00 to $127.00 in a research note on Monday, July 28th. Finally, analysts at Barclays raised their price target on shares of SBA Communications from $104.00 to $125.00 in a research note on Monday, July 28th. They now have an “overweight” rating on the stock.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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