SBA Communications Corporation (NASDAQ:SBAC) – Equities researchers at KeyCorp upped their FY2017 earnings per share (EPS) estimates for shares of SBA Communications Corporation in a research report issued on Monday. KeyCorp analyst B. Nispel now anticipates that the technology company will earn $1.04 per share for the year, up from their prior forecast of $0.87. KeyCorp currently has a “Buy” rating and a $170.00 price target on the stock.
Several other analysts have also recently issued reports on SBAC. Deutsche Bank AG reaffirmed a “hold” rating and set a $150.00 price objective (up from $133.00) on shares of SBA Communications Corporation in a report on Friday, July 14th. Zacks Investment Research cut SBA Communications Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC upped their price objective on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $160.00 price objective (up from $148.00) on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $149.67.
Shares of SBA Communications Corporation (NASDAQ SBAC) opened at $154.53 on Thursday. The stock has a market capitalization of $18.49 billion, a P/E ratio of 195.13, a PEG ratio of 15.24 and a beta of 0.75. SBA Communications Corporation has a twelve month low of $95.66 and a twelve month high of $159.14. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.12) EPS.
In other SBA Communications Corporation news, SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. grew its position in SBA Communications Corporation by 18.8% in the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after acquiring an additional 120 shares during the last quarter. Creative Planning grew its position in SBA Communications Corporation by 40.7% in the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after acquiring an additional 253 shares during the last quarter. Acadian Asset Management LLC bought a new position in SBA Communications Corporation in the 2nd quarter valued at $159,000. Advisor Group Inc. grew its position in SBA Communications Corporation by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after acquiring an additional 114 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in SBA Communications Corporation by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after acquiring an additional 129 shares during the last quarter. 92.54% of the stock is currently 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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