SBA Communications Corporation (NASDAQ:SBAC) Receiving Somewhat Positive Press Coverage, Study Finds
Press coverage about SBA Communications Corporation (NASDAQ:SBAC) has been trending somewhat positive on Thursday, according to Accern. The research group identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. SBA Communications Corporation earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave headlines about the technology company an impact score of 45.9926068617808 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
SBA Communications Corporation (NASDAQ:SBAC) traded down 0.01% during midday trading on Thursday, hitting $139.02. The stock had a trading volume of 453,973 shares. The stock has a 50-day moving average price of $136.12 and a 200 day moving average price of $124.99. SBA Communications Corporation has a one year low of $95.66 and a one year high of $141.59. The firm has a market cap of $16.73 billion, a PE ratio of 477.73 and a beta of 0.73.
SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.01. The company had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. On average, analysts predict that SBA Communications Corporation will post $0.97 earnings per share for the current year.
SBAC has been the subject of a number of research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $133.00 price objective (up previously from $121.00) on shares of SBA Communications Corporation in a research note on Saturday, April 22nd. Barclays PLC boosted their price objective on SBA Communications Corporation from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Wednesday, May 3rd. Cowen and Company boosted their price objective on SBA Communications Corporation from $131.00 to $141.00 and gave the company an “outperform” rating in a research note on Tuesday, May 2nd. Citigroup Inc. cut SBA Communications Corporation to an “outperform” rating and set a $153.00 price objective for the company. in a research note on Monday, June 12th. Finally, Zacks Investment Research upgraded SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price objective for the company in a research note on Thursday, July 20th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. SBA Communications Corporation has an average rating of “Buy” and an average price target of $141.57.
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In other SBA Communications Corporation news, Director George R. Krouse, Jr. sold 187 shares of SBA Communications Corporation stock in a transaction on Monday, June 5th. The stock was sold at an average price of $138.43, for a total transaction of $25,886.41. Following the sale, the director now owns 10,896 shares of the company’s stock, valued at approximately $1,508,333.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brian C. Carr sold 3,475 shares of SBA Communications Corporation stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $132.54, for a total value of $460,576.50. Following the sale, the director now directly owns 3,051 shares in the company, valued at approximately $404,379.54. The disclosure for this sale can be found here. In the last three months, insiders sold 167,179 shares of company stock worth $22,588,671. Company insiders own 2.10% 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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