SBA Communications (SBAC) Raised to Hold at BidaskClub

SBA Communications (NASDAQ:SBAC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.

A number of other equities analysts also recently commented on the company. Morgan Stanley lifted their price target on SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. UBS Group started coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target for the company. KeyCorp reiterated a “buy” rating and issued a $179.00 price target (up from $170.00) on shares of SBA Communications in a research note on Wednesday, November 1st. Cowen reiterated a “buy” rating and issued a $170.00 price target (up from $155.00) on shares of SBA Communications in a research note on Tuesday, December 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $200.00 price target on shares of SBA Communications in a research note on Thursday, November 30th. One 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 company presently has an average rating of “Buy” and a consensus price target of $165.07.

Shares of SBA Communications (NASDAQ SBAC) opened at $174.73 on Friday. SBA Communications has a 52-week low of $103.51 and a 52-week high of $177.67. The stock has a market capitalization of $20,511.08 and a PE ratio of 218.13. 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 announced its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) 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 analyst estimates of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.12) earnings per share. research analysts predict that SBA Communications will post 0.97 EPS for the current year.

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

A number of hedge funds have recently modified their holdings of the business. Advisor Group Inc. boosted its stake in SBA Communications by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after acquiring an additional 114 shares during the period. D.A. Davidson & CO. boosted its stake in SBA Communications by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after acquiring an additional 120 shares during the period. Toronto Dominion Bank boosted its stake in SBA Communications by 9.5% in the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after acquiring an additional 129 shares during the period. Suntrust Banks Inc. boosted its position in shares of SBA Communications by 2.6% during the second quarter. Suntrust Banks Inc. now owns 6,751 shares of the technology company’s stock worth $910,000 after buying an additional 168 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of SBA Communications by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 4,497 shares of the technology company’s stock worth $607,000 after buying an additional 245 shares during the period. Institutional investors own 95.98% of the company’s stock.

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SBA Communications 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.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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