SBA Communications (SBAC) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of SBA Communications (NASDAQ:SBAC) from a sell rating to a strong sell rating in a report issued on Tuesday morning.

Other equities research analysts also recently issued reports about the company. Cowen restated a buy rating and set a $170.00 price target (up from $155.00) on shares of SBA Communications in a research note on Tuesday, December 5th. Morgan Stanley boosted their price target on SBA Communications from $169.00 to $190.00 and gave the company an overweight rating in a research note on Tuesday, November 14th. KeyCorp restated an overweight rating and set a $192.00 price target (up from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Zacks Investment Research raised SBA Communications from a sell rating to a hold rating in a research report on Monday, October 16th. Finally, UBS Group began coverage on SBA Communications in a research report on Wednesday, October 18th. They set a buy rating and a $176.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. SBA Communications presently has a consensus rating of Buy and a consensus target price of $162.93.

SBA Communications (NASDAQ SBAC) traded up $3.91 during trading on Tuesday, hitting $159.85. The company’s stock had a trading volume of 1,412,800 shares, compared to its average volume of 926,450. The company has a market cap of $18,329.50, a P/E ratio of 190.30 and a beta of 0.77. SBA Communications has a 1-year low of $102.29 and a 1-year high of $173.97. 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 (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. equities research analysts forecast that SBA Communications will post 0.97 EPS for the current fiscal year.

In other news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SBAC. Prudential Financial Inc. lifted its holdings in SBA Communications by 319.0% in the 2nd quarter. Prudential Financial Inc. now owns 33,600 shares of the technology company’s stock worth $4,533,000 after purchasing an additional 25,580 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in SBA Communications in the 2nd quarter worth approximately $220,000. Eaton Vance Management lifted its holdings in SBA Communications by 20.6% in the 2nd quarter. Eaton Vance Management now owns 17,453 shares of the technology company’s stock worth $2,354,000 after purchasing an additional 2,984 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in SBA Communications by 99.2% in the 2nd quarter. Alliancebernstein L.P. now owns 214,991 shares of the technology company’s stock worth $29,002,000 after purchasing an additional 107,074 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in SBA Communications by 71.4% in the 2nd quarter. Teachers Advisors LLC now owns 258,540 shares of the technology company’s stock worth $34,877,000 after purchasing an additional 107,706 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

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About SBA Communications

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.

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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