SBA Communications Corporation (NASDAQ:SBAC) Lifted to Buy at BidaskClub
SBA Communications Corporation (NASDAQ:SBAC) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of SBA Communications Corporation from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada restated a “buy” rating on shares of SBA Communications Corporation in a report on Wednesday, August 2nd. Barclays PLC restated an “overweight” rating and issued a $148.00 price objective on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and issued a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Finally, Jefferies Group LLC upped their price objective on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $141.57.
Shares of SBA Communications Corporation (NASDAQ SBAC) traded down 1.08% during mid-day trading on Tuesday, hitting $138.01. The stock had a trading volume of 241,947 shares. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 474.26 and a beta of 0.73. The stock’s 50-day moving average is $134.80 and its 200 day moving average is $123.72. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $140.38.
SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a negative return on equity of 2.69% and a net margin of 2.19%. The company had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. During the same period in the previous year, the company earned $1.48 earnings per share. SBA Communications Corporation’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts predict that SBA Communications Corporation will post $0.98 EPS for the current fiscal year.
In other news, Director George R. Krouse, Jr. sold 1,643 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total transaction of $227,769.09. Following the sale, the director now owns 11,643 shares in the company, valued at $1,614,069.09. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark R. Ciarfella sold 9,655 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the sale, the executive vice president now owns 21,403 shares in the company, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,179 shares of company stock worth $22,588,671. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. boosted its stake in SBA Communications Corporation by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,309 shares of the technology company’s stock worth $372,000 after buying an additional 92 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in SBA Communications Corporation during the first quarter worth approximately $7,308,000. Boston Advisors LLC purchased a new stake in SBA Communications Corporation during the first quarter worth approximately $201,000. DnB Asset Management AS increased its position in shares of SBA Communications Corporation by 14.6% in the first quarter. DnB Asset Management AS now owns 12,523 shares of the technology company’s stock worth $1,507,000 after buying an additional 1,600 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of SBA Communications Corporation during the first quarter worth $349,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.
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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