SBA Communications Corporation (SBAC) Given Consensus Recommendation of “Buy” by Brokerages
Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned an average rating of “Buy” from the sixteen analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $144.58.
Several research firms have issued reports on SBAC. BidaskClub upgraded SBA Communications Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Jefferies Group LLC upped their price objective on SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating on shares of SBA Communications Corporation in a research note on Wednesday, August 2nd. Barclays PLC restated an “overweight” rating and issued a $148.00 price objective on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a research note on Tuesday, August 1st.
Shares of SBA Communications Corporation (NASDAQ:SBAC) traded up 0.82% on Friday, hitting $149.99. The stock had a trading volume of 1,898,902 shares. SBA Communications Corporation has a one year low of $95.66 and a one year high of $154.71. The stock has a market capitalization of $18.05 billion, a PE ratio of 515.43 and a beta of 0.71. The firm’s 50 day moving average is $145.17 and its 200-day moving average is $132.26.
SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. SBA Communications Corporation’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Equities research analysts expect that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.
In related news, EVP Mark R. Ciarfella sold 9,655 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the sale, the executive vice president now owns 21,403 shares of the company’s stock, valued at $3,012,258.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the sale, the senior vice president now directly owns 17,525 shares in the company, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. Insiders have sold 18,674 shares of company stock worth $2,706,217 in the last three months. 2.10% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. D.A. Davidson & CO. grew its position in SBA Communications Corporation by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares in the last quarter. Creative Planning grew its position in SBA Communications Corporation by 40.7% during the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in SBA Communications Corporation during the second quarter worth approximately $159,000. Van ECK Associates Corp grew its position in SBA Communications Corporation by 17.0% during the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after buying an additional 177 shares in the last quarter. Finally, Advisor Group Inc. grew its position in SBA Communications Corporation by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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