SBA Communications Corporation (NASDAQ:SBAC)‘s stock had its “buy” rating reiterated by stock analysts at Cowen and Company in a note issued to investors on Tuesday, October 17th. They currently have a $147.00 target price on the technology company’s stock. Cowen and Company’s target price indicates a potential downside of 10.59% from the company’s previous close.
A number of other brokerages also recently issued reports on SBAC. Zacks Investment Research raised shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price objective on the stock in a research report on Thursday, July 20th. Barclays PLC reissued an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Deutsche Bank AG reissued a “hold” rating and set a $150.00 price objective (up from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. BidaskClub raised shares of SBA Communications Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, KeyCorp raised shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective on the stock in a research report on Wednesday, September 27th. Five investment 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. The stock has an average rating of “Buy” and a consensus target price of $150.27.
SBA Communications Corporation (NASDAQ SBAC) traded up $9.89 during trading hours on Tuesday, reaching $164.42. 2,012,339 shares of the company were exchanged, compared to its average volume of 1,173,161. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $159.14. 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 company has a market cap of $18,300.68, a price-to-earnings ratio of 193.16 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The company had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. During the same period in the prior year, the business posted ($0.12) EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. research analysts predict that SBA Communications Corporation will post 0.97 EPS for the current fiscal year.
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In other SBA Communications Corporation news, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares in the company, valued at approximately $2,660,119.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Teacher Retirement System of Texas bought a new position in shares of SBA Communications Corporation in the 3rd quarter worth approximately $3,990,000. Rhumbline Advisers lifted its stake in shares of SBA Communications Corporation by 43.5% in the 3rd quarter. Rhumbline Advisers now owns 257,121 shares of the technology company’s stock worth $37,038,000 after purchasing an additional 77,950 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of SBA Communications Corporation by 5,295.3% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 87,944 shares of the technology company’s stock worth $12,668,000 after purchasing an additional 86,314 shares during the period. Toronto Dominion Bank lifted its stake in shares of SBA Communications Corporation by 2,972.9% in the 3rd quarter. Toronto Dominion Bank now owns 45,694 shares of the technology company’s stock worth $6,581,000 after purchasing an additional 44,207 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of SBA Communications Corporation in the 3rd quarter worth approximately $448,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.
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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