SBA Communications Co. (SBAC) Given Consensus Recommendation of “Buy” by Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given an average recommendation of “Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $179.89.

A number of brokerages have issued reports on SBAC. BidaskClub cut SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Macquarie lowered their price objective on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. ValuEngine upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Morgan Stanley lowered their price objective on SBA Communications from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Thursday, August 16th.

Shares of SBAC traded down $4.92 on Monday, reaching $151.21. The stock had a trading volume of 889,724 shares, compared to its average volume of 766,619. SBA Communications has a 12-month low of $145.99 and a 12-month high of $177.67.



SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 30th. The technology company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.68). The firm had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $457.43 million. SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. As a group, research analysts expect that SBA Communications will post 7.1 earnings per share for the current fiscal year.

In other SBA Communications news, CEO Jeffrey Stoops sold 40,000 shares of SBA Communications stock in a transaction on Friday, September 14th. The stock was sold at an average price of $160.05, for a total value of $6,402,000.00. Following the completion of the sale, the chief executive officer now owns 252,180 shares of the company’s stock, valued at approximately $40,361,409. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Carr sold 800 shares of SBA Communications stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total value of $124,000.00. Following the completion of the sale, the director now directly owns 3,070 shares of the company’s stock, valued at approximately $475,850. The disclosure for this sale can be found here. In the last three months, insiders sold 80,805 shares of company stock valued at $12,693,203. Corporate insiders own 2.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of SBA Communications by 87.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 235,466 shares of the technology company’s stock worth $37,740,000 after purchasing an additional 109,920 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of SBA Communications by 13.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 6,247 shares of the technology company’s stock worth $1,003,000 after purchasing an additional 746 shares in the last quarter. Managed Account Services Inc. bought a new stake in shares of SBA Communications in the 3rd quarter worth $346,000. Oakbrook Investments LLC increased its holdings in shares of SBA Communications by 36.1% in the 3rd quarter. Oakbrook Investments LLC now owns 6,688 shares of the technology company’s stock worth $1,074,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of SBA Communications by 1.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 28,700 shares of the technology company’s stock worth $4,610,000 after purchasing an additional 405 shares in the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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