SBA Communications Co. (SBAC) Given Consensus Recommendation of “Buy” by Brokerages
SBA Communications Co. (NASDAQ:SBAC) has been given a consensus recommendation of “Buy” by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $181.22.
Several analysts recently commented on SBAC shares. Guggenheim set a $180.00 price objective on shares of SBA Communications and gave the company a “buy” rating in a research report on Wednesday, October 17th. ValuEngine downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Citigroup increased their price objective on shares of SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, November 6th. BidaskClub downgraded shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, October 5th. Finally, Bank of America set a $189.00 price objective on shares of SBA Communications and gave the company a “buy” rating in a research report on Thursday, November 15th.
In other news, VP Thomas P. Hunt sold 79,908 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $172.47, for a total transaction of $13,781,732.76. Following the sale, the vice president now owns 133,652 shares of the company’s stock, valued at approximately $23,050,960.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brendan Thomas Cavanagh sold 147,717 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $172.16, for a total transaction of $25,430,958.72. Following the sale, the insider now directly owns 81,810 shares in the company, valued at approximately $14,084,409.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,887 shares of company stock worth $88,441,242. Insiders own 2.70% of the company’s stock.
Shares of SBAC stock opened at $178.76 on Wednesday. SBA Communications has a one year low of $146.13 and a one year high of $179.63.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($1.64). SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The firm had revenue of $467.20 million for the quarter, compared to analysts’ expectations of $459.17 million. During the same period last year, the company posted $1.75 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts expect that SBA Communications will post 7.15 earnings per share for the current year.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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