Investors sold shares of SBA Communications Co. (NASDAQ:SBAC) on strength during trading hours on Thursday. $47.27 million flowed into the stock on the tick-up and $62.19 million flowed out of the stock on the tick-down, for a money net flow of $14.92 million out of the stock. Of all companies tracked, SBA Communications had the 25th highest net out-flow for the day. SBA Communications traded up $2.32 for the day and closed at $169.41
Several analysts recently issued reports on SBAC shares. BidaskClub raised shares of SBA Communications from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. KeyCorp set a $188.00 price target on shares of SBA Communications and gave the company a “buy” rating in a report on Tuesday, February 27th. Deutsche Bank upped their price target on shares of SBA Communications from $164.00 to $170.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Wells Fargo reaffirmed a “market perform” rating and issued a $170.00 price target (up from $150.00) on shares of SBA Communications in a report on Tuesday, February 27th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $200.00 price target on shares of SBA Communications in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. SBA Communications presently has a consensus rating of “Buy” and an average price target of $172.50.
The company has a market capitalization of $19,728.13, a price-to-earnings ratio of 196.99, a price-to-earnings-growth ratio of 17.78 and a beta of 0.92. The company has a debt-to-equity ratio of -3.57, a current ratio of 0.93 and a quick ratio of 0.93.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $1.60. The company had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $437.01 million. SBA Communications had a net margin of 6.00% and a negative return on equity of 5.43%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. analysts forecast that SBA Communications Co. will post 0.95 EPS for the current fiscal year.
SBA Communications announced that its Board of Directors has authorized a share buyback program on Monday, February 26th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other SBA Communications news, Director Duncan Cocroft bought 500 shares of the company’s stock in a transaction on Monday, March 12th. The shares were bought at an average cost of $167.29 per share, with a total value of $83,645.00. Following the completion of the acquisition, the director now owns 87,966 shares of the company’s stock, valued at $14,715,832.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in shares of SBA Communications by 26.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock worth $421,803,000 after purchasing an additional 545,374 shares during the period. Wells Fargo & Company MN raised its holdings in shares of SBA Communications by 15.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,315,958 shares of the technology company’s stock worth $214,975,000 after purchasing an additional 173,146 shares during the period. Geode Capital Management LLC raised its holdings in shares of SBA Communications by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,310,951 shares of the technology company’s stock worth $213,733,000 after purchasing an additional 26,913 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SBA Communications by 156.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,224,149 shares of the technology company’s stock worth $199,977,000 after purchasing an additional 745,900 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SBA Communications by 70.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock worth $168,105,000 after purchasing an additional 480,852 shares during the period. 92.87% of the stock is currently owned by institutional investors.
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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.
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