SBA Communications Co. (SBAC) Receives Average Rating of “Buy” from Analysts

SBA Communications Co. (NASDAQ:SBAC) has been assigned an average rating of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $196.00.

A number of analysts have recently commented on SBAC shares. Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Morgan Stanley upped their price objective on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, March 11th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 10th. Guggenheim downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Friday, February 22nd. Finally, Bank of America upped their price objective on SBA Communications from $189.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th.

SBAC traded up $0.68 during trading on Friday, hitting $210.15. The company’s stock had a trading volume of 16,560 shares, compared to its average volume of 548,238. The company has a market capitalization of $23.56 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.70 and a beta of 0.82. SBA Communications has a twelve month low of $146.13 and a twelve month high of $212.96.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($1.66). The business had revenue of $493.29 million during the quarter, compared to analyst estimates of $481.06 million. SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. As a group, research analysts anticipate that SBA Communications will post 7.75 earnings per share for the current year.

In related news, Director Brian C. Carr sold 700 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $206.50, for a total transaction of $144,550.00. Following the completion of the sale, the director now directly owns 2,590 shares of the company’s stock, valued at approximately $534,835. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian D. Lazarus sold 20,561 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $187.51, for a total transaction of $3,855,393.11. Following the sale, the senior vice president now directly owns 36,525 shares of the company’s stock, valued at $6,848,802.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,916 shares of company stock valued at $47,405,473. 2.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. MML Investors Services LLC boosted its position in SBA Communications by 3.4% during the 1st quarter. MML Investors Services LLC now owns 1,530 shares of the technology company’s stock worth $305,000 after purchasing an additional 51 shares during the period. Zeke Capital Advisors LLC boosted its position in SBA Communications by 0.6% in the 1st quarter. Zeke Capital Advisors LLC now owns 9,976 shares of the technology company’s stock valued at $1,992,000 after buying an additional 56 shares during the last quarter. Parallel Advisors LLC boosted its position in SBA Communications by 27.0% in the 1st quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock valued at $53,000 after buying an additional 57 shares during the last quarter. CWM LLC boosted its position in SBA Communications by 31.4% in the 1st quarter. CWM LLC now owns 243 shares of the technology company’s stock valued at $49,000 after buying an additional 58 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in SBA Communications by 4.1% in the 4th quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock valued at $242,000 after buying an additional 59 shares during the last quarter. 94.69% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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