SBA Communications’ (SBAC) Neutral Rating Reaffirmed at Moffett Nathanson

Share on StockTwits

Moffett Nathanson reissued their neutral rating on shares of SBA Communications (NASDAQ:SBAC) in a report released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a $246.00 price objective on the technology company’s stock.

Several other brokerages have also recently issued reports on SBAC. ValuEngine cut shares of Valero Energy from a hold rating to a sell rating in a research report on Wednesday, May 8th. New Street Research cut shares of CROWN CASTLE IN/SH SH from a neutral rating to a sell rating and set a $113.00 target price on the stock. in a research report on Thursday, June 13th. Raymond James restated an average rating and set a $16.00 target price on shares of Aeroflex in a research report on Wednesday, May 1st. UBS Group restated a buy rating on shares of Fortis in a research report on Friday, June 7th. Finally, BidaskClub upgraded shares of Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $208.33.

SBAC opened at $235.18 on Monday. The firm’s 50-day moving average is $223.72. SBA Communications has a 52 week low of $146.13 and a 52 week high of $236.90. The company has a market cap of $26.58 billion, a P/E ratio of 30.94, a PEG ratio of 3.00 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing the consensus estimate of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The company had revenue of $493.29 million for the quarter, compared to the consensus estimate of $481.06 million. During the same period last year, the company earned $1.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict 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 stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $206.50, for a total value of $144,550.00. Following the sale, the director now directly owns 2,590 shares of the company’s stock, valued at approximately $534,835. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 1,899 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $204.16, for a total transaction of $387,699.84. Following the completion of the sale, the director now directly owns 10,481 shares in the company, valued at $2,139,800.96. The disclosure for this sale can be found here. Insiders have sold a total of 67,978 shares of company stock worth $14,787,645 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Zeke Capital Advisors LLC raised 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 worth $1,992,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC raised 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 worth $53,000 after purchasing an additional 57 shares during the period. CWM LLC increased its position in shares of SBA Communications by 31.4% during the first quarter. CWM LLC now owns 243 shares of the technology company’s stock worth $49,000 after acquiring an additional 58 shares during the period. Suntrust Banks Inc. increased its position in shares of SBA Communications by 4.1% during the fourth quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock worth $242,000 after acquiring an additional 59 shares during the period. Finally, ETF Managers Group LLC increased its position in shares of SBA Communications by 10.1% during the first quarter. ETF Managers Group LLC now owns 836 shares of the technology company’s stock worth $167,000 after acquiring an additional 77 shares during the period. 94.24% of the stock is currently owned by institutional investors.

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.

Featured Article: P/E Growth (PEG)

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.