SBA Communications Sets New 52-Week High at $111.99 (SBAC)
SBA Communications (NASDAQ:SBAC) shares reached a new 52-week high during mid-day trading on Wednesday , Analyst Ratings News reports. The stock traded as high as $111.99 and last traded at $110.88, with a volume of 500,333 shares. The stock had previously closed at $110.47.
A number of analysts have recently weighed in on SBAC shares. Analysts at Goldman Sachs initiated coverage on shares of SBA Communications in a research note on Tuesday. They set a “neutral” rating on the stock. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $115.43.
The stock’s 50-day moving average is $107.3 and its 200-day moving average is $98.98. The company’s market cap is $14.308 billion.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.31 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.28) earnings per share. SBA Communications’s revenue was up 18.2% compared to the same quarter last year. 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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