SBA Communications Co. (SBAC) Given Consensus Rating of “Buy” by Brokerages

SBA Communications Co. (NASDAQ:SBAC) has been given a consensus recommendation of “Buy” by the sixteen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $165.62.

A number of equities analysts recently weighed in on SBAC shares. KeyCorp upgraded shares of SBA Communications from a “sector weight” rating to an “overweight” rating and set a $170.00 target price on the stock in a report on Wednesday, September 27th. Royal Bank of Canada restated a “buy” rating and set a $200.00 target price on shares of SBA Communications in a report on Thursday, November 30th. UBS Group started coverage on shares of SBA Communications in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 target price on the stock. Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Finally, BidaskClub downgraded shares of SBA Communications from a “sell” rating to a “strong sell” rating in a report on Tuesday.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in SBAC. PointState Capital LP bought a new stake in shares of SBA Communications in the second quarter valued at about $149,091,000. Voya Investment Management LLC lifted its position in SBA Communications by 1,343.6% during the second quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after purchasing an additional 611,497 shares during the period. Dimensional Fund Advisors LP lifted its position in SBA Communications by 279.9% during the second quarter. Dimensional Fund Advisors LP now owns 686,142 shares of the technology company’s stock worth $92,560,000 after purchasing an additional 505,530 shares during the period. Ameriprise Financial Inc. lifted its position in SBA Communications by 88.9% during the third quarter. Ameriprise Financial Inc. now owns 1,070,110 shares of the technology company’s stock worth $154,151,000 after purchasing an additional 503,526 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in SBA Communications by 79.2% during the third quarter. JPMorgan Chase & Co. now owns 938,873 shares of the technology company’s stock worth $134,971,000 after purchasing an additional 415,078 shares during the period. 96.02% of the stock is owned by institutional investors.

Shares of SBA Communications (NASDAQ SBAC) traded up $0.18 on Friday, reaching $161.65. 1,441,100 shares of the company were exchanged, compared to its average volume of 954,717. The firm has a market capitalization of $18,979.51, a P/E ratio of 192.44 and a beta of 0.77. SBA Communications has a fifty-two week low of $102.29 and a fifty-two week high of $173.97. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. analysts predict that SBA Communications will post 0.97 earnings per share for the current year.

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About SBA Communications

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.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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