SBA Communications Corporation (NASDAQ:SBAC) had its price target upped by Morgan Stanley from $169.00 to $190.00 in a research note issued to investors on Tuesday. Morgan Stanley currently has an overweight rating on the technology company’s stock.
SBAC has been the subject of a number of other research reports. UBS AG began coverage on SBA Communications Corporation in a research note on Wednesday, October 18th. They set a buy rating and a $176.00 price objective for the company. BidaskClub upgraded SBA Communications Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, August 22nd. Cowen and Company reiterated a buy rating and set a $147.00 price objective on shares of SBA Communications Corporation in a research note on Tuesday, October 17th. Stifel Nicolaus reiterated a buy rating and set a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC lifted their target price on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a buy rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $152.33.
Shares of SBA Communications Corporation (NASDAQ:SBAC) traded up $0.54 during trading hours on Tuesday, reaching $165.21. The company’s stock had a trading volume of 1,063,889 shares, compared to its average volume of 1,213,648. The stock has a market capitalization of $19,430.00, a PE ratio of 206.91 and a beta of 0.75. SBA Communications Corporation has a 1-year low of $95.76 and a 1-year high of $170.82. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63.
SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million during the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) earnings per share. sell-side analysts predict that SBA Communications Corporation will post 0.98 EPS for the current fiscal year.
In other SBA Communications Corporation news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the sale, the director now owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were 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 of the company’s stock, valued at approximately $2,660,119.75. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SBAC. Toronto Dominion Bank lifted its position in shares of SBA Communications Corporation 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 in the last quarter. State Treasurer State of Michigan purchased a new position in shares of SBA Communications Corporation in the third quarter valued at about $5,258,000. SG Americas Securities LLC lifted its position in shares of SBA Communications Corporation by 160.5% in the second quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,781 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of SBA Communications Corporation in the second quarter valued at about $3,475,000. Finally, Eagle Asset Management Inc. lifted its position in shares of SBA Communications Corporation by 14.1% in the second quarter. Eagle Asset Management Inc. now owns 361,554 shares of the technology company’s stock valued at $48,773,000 after acquiring an additional 44,693 shares in the last quarter. 95.41% of the stock is 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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