BidaskClub cut shares of SBA Communications (NASDAQ:SBAC) from a sell rating to a strong sell rating in a report published on Tuesday.
Several other research analysts also recently commented on the stock. Cowen reaffirmed a buy rating and issued a $170.00 price objective (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. Royal Bank of Canada reaffirmed a buy rating and issued a $200.00 price objective on shares of SBA Communications in a report on Thursday, November 30th. KeyCorp reaffirmed an overweight rating and issued a $192.00 price objective (up from $179.00) on shares of SBA Communications in a report on Monday, November 27th. Morgan Stanley raised their price objective on shares of SBA Communications from $169.00 to $190.00 and gave the stock an overweight rating in a report on Tuesday, November 14th. Finally, UBS Group began coverage on shares of SBA Communications in a report on Wednesday, October 18th. They issued a buy rating and a $176.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $165.07.
Shares of SBA Communications (NASDAQ SBAC) traded up $4.14 during mid-day trading on Tuesday, hitting $165.79. 1,612,388 shares of the stock traded hands, compared to its average volume of 704,730. 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 has a 12 month low of $102.29 and a 12 month high of $173.97. The stock has a market cap of $19,000.66, a price-to-earnings ratio of 197.37 and a beta of 0.77.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The company had revenue of $433.90 million during 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%. SBA Communications’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned ($0.12) EPS. equities research analysts anticipate that SBA Communications will post 0.97 earnings per share for the current fiscal year.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were 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 of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in SBAC. Prudential Financial Inc. boosted its holdings in SBA Communications by 319.0% in the 2nd quarter. Prudential Financial Inc. now owns 33,600 shares of the technology company’s stock valued at $4,533,000 after purchasing an additional 25,580 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of SBA Communications during the 2nd quarter valued at $220,000. Eaton Vance Management raised its position in shares of SBA Communications by 20.6% during the 2nd quarter. Eaton Vance Management now owns 17,453 shares of the technology company’s stock valued at $2,354,000 after buying an additional 2,984 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of SBA Communications by 99.2% during the 2nd quarter. Alliancebernstein L.P. now owns 214,991 shares of the technology company’s stock valued at $29,002,000 after buying an additional 107,074 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of SBA Communications by 71.4% during the 2nd quarter. Teachers Advisors LLC now owns 258,540 shares of the technology company’s stock valued at $34,877,000 after buying an additional 107,706 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.
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.
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