UBS AG assumed coverage on shares of SBA Communications Corporation (NASDAQ:SBAC) in a research note published on Wednesday, October 18th, thefly.com reports. The firm issued a buy rating and a $176.00 price target on the technology company’s stock.
A number of other equities analysts also recently weighed in on SBAC. BidaskClub raised shares of SBA Communications Corporation from a hold rating to a buy rating in a research note on Tuesday, August 8th. Jefferies Group LLC increased their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a buy rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a buy rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Barclays PLC reissued an overweight rating and set a $148.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Finally, Cowen and Company reaffirmed a buy rating and issued a $147.00 price target on shares of SBA Communications Corporation in a research report on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. SBA Communications Corporation presently has an average rating of Buy and an average price target of $150.27.
SBA Communications Corporation (NASDAQ SBAC) traded up $9.89 on Wednesday, hitting $164.42. The stock had a trading volume of 2,012,339 shares, compared to its average volume of 1,173,161. SBA Communications Corporation has a one year low of $95.66 and a one year high of $159.14. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization 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 earnings per share for the quarter, topping 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 business had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same period in the prior year, the business posted ($0.12) earnings per share. SBA Communications Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts expect that SBA Communications Corporation will post 0.97 earnings per share for the current year.
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In other news, 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 transaction of $1,119,603.04. Following the transaction, the senior vice president now directly 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 can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Comerica Bank bought a new stake in shares of SBA Communications Corporation during the 3rd quarter worth approximately $6,482,000. Bank of New York Mellon Corp lifted its holdings in shares of SBA Communications Corporation by 83.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 887,981 shares of the technology company’s stock worth $127,913,000 after acquiring an additional 402,820 shares during the period. Massey Quick Simon & CO. LLC lifted its holdings in shares of SBA Communications Corporation by 6.2% during the 3rd quarter. Massey Quick Simon & CO. LLC now owns 85,451 shares of the technology company’s stock worth $12,309,000 after acquiring an additional 5,000 shares during the period. Teacher Retirement System of Texas bought a new position in SBA Communications Corporation in the 3rd quarter valued at approximately $3,990,000. Finally, Rhumbline Advisers lifted its stake in SBA Communications Corporation by 43.5% in the 3rd quarter. Rhumbline Advisers now owns 257,121 shares of the technology company’s stock valued at $37,038,000 after purchasing an additional 77,950 shares during the last quarter. 92.70% 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.
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