SBA Communications Corporation’s (NASDAQ:SBAC) Buy Rating Reaffirmed at KeyCorp

KeyCorp reaffirmed their buy rating on shares of SBA Communications Corporation (NASDAQ:SBAC) in a research report released on Wednesday, November 1st. The firm currently has a $179.00 target price on the technology company’s stock, up from their prior target price of $170.00. KeyCorp also issued estimates for SBA Communications Corporation’s Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $1.04 EPS, Q1 2018 earnings at $0.24 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.39 EPS and FY2018 earnings at $1.17 EPS.

A number of other brokerages also recently issued reports on SBAC. Zacks Investment Research upgraded SBA Communications Corporation from a hold rating to a strong-buy rating and set a $158.00 target price on the stock in a research report on Thursday, July 20th. Barclays PLC restated an overweight rating and issued a $148.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Deutsche Bank AG restated a hold rating and issued a $150.00 target price (up previously from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. BidaskClub upgraded SBA Communications Corporation from a hold rating to a buy rating in a research report on Tuesday, August 8th. Finally, Citigroup Inc. raised their target price on SBA Communications Corporation from $140.00 to $168.00 and gave the company a neutral rating in a research report on Monday, August 28th. Five equities research 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 stock. SBA Communications Corporation currently has a consensus rating of Buy and an average price target of $152.33.

Shares of SBA Communications Corporation (NASDAQ SBAC) traded down $3.75 during mid-day trading on Wednesday, hitting $165.20. The stock had a trading volume of 1,945,400 shares, compared to its average volume of 1,213,825. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The firm has a market capitalization of $19,420.00, a price-to-earnings ratio of 211.19 and a beta of 0.75. SBA Communications Corporation has a fifty-two week low of $95.66 and a fifty-two week high of $170.82.

SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. The company had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. SBA Communications Corporation’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.12) earnings per share. equities analysts expect that SBA Communications Corporation will post 0.98 earnings per share for the current year.

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In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications Corporation stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian D. Lazarus sold 7,376 shares of SBA Communications Corporation stock in a transaction dated Friday, August 25th. The stock was 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 $2,660,119.75. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank lifted its holdings in SBA Communications Corporation by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after buying an additional 129 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of SBA Communications Corporation in the 2nd quarter valued at about $3,137,000. State Treasurer State of Michigan purchased a new stake in shares of SBA Communications Corporation in the 3rd quarter valued at about $5,258,000. SG Americas Securities LLC lifted its holdings in shares of SBA Communications Corporation by 160.5% in the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after purchasing an additional 7,781 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. purchased a new stake in shares of SBA Communications Corporation in the 2nd quarter valued at about $3,475,000. 95.41% of the stock is owned by institutional investors.

About SBA Communications Corporation

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 Corporation (NASDAQ:SBAC)

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