SBA Communications (NASDAQ:SBAC) had its price objective hoisted by KeyCorp from $215.00 to $252.00 in a report released on Monday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the technology company’s stock. The analysts noted that the move was a valuation call.
SBAC has been the topic of a number of other reports. BidaskClub raised Zogenix from a sell rating to a hold rating in a research note on Thursday, May 9th. UBS Group reissued a buy rating on shares of Fortis in a research note on Friday, June 7th. SunTrust Banks cut their target price on Unisys to $17.00 and set a buy rating on the stock in a research note on Thursday, April 11th. New Street Research cut 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 note on Thursday, June 13th. Finally, Bank of America set a $68.00 target price on Inphi and gave the stock a buy rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $214.25.
SBAC opened at $231.85 on Monday. The business has a fifty day moving average price of $226.67. The company has a market capitalization of $26.26 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 3.03 and a beta of 0.67. SBA Communications has a 12-month low of $146.13 and a 12-month high of $236.90.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($1.66). SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The company had revenue of $493.29 million during the quarter, compared to analysts’ expectations of $481.06 million. During the same period in the prior year, the company posted $1.85 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that SBA Communications will post 7.75 EPS for the current fiscal year.
In related news, Director George R. Krouse, Jr. sold 1,899 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $204.16, for a total transaction of $387,699.84. Following the sale, the director now directly owns 10,481 shares of the company’s stock, valued at $2,139,800.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Stoops sold 37,847 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $218.87, for a total value of $8,283,572.89. Following the sale, the chief executive officer now directly owns 255,141 shares in the company, valued at $55,842,710.67. The disclosure for this sale can be found here. Insiders have sold 67,978 shares of company stock worth $14,787,645 over the last ninety days. 2.50% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SBAC. American Century Companies Inc. boosted its position in SBA Communications by 3.5% in the fourth quarter. American Century Companies Inc. now owns 2,035,936 shares of the technology company’s stock worth $329,598,000 after purchasing an additional 68,669 shares during the last quarter. Geode Capital Management LLC boosted its position in SBA Communications by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 1,498,094 shares of the technology company’s stock worth $242,108,000 after purchasing an additional 80,550 shares during the last quarter. Commonwealth Bank of Australia boosted its position in SBA Communications by 24.7% in the first quarter. Commonwealth Bank of Australia now owns 1,280,749 shares of the technology company’s stock worth $255,703,000 after purchasing an additional 253,552 shares during the last quarter. FMR LLC boosted its position in SBA Communications by 3,456.5% in the first quarter. FMR LLC now owns 1,245,173 shares of the technology company’s stock worth $248,612,000 after purchasing an additional 1,210,162 shares during the last quarter. Finally, Northern Trust Corp boosted its position in SBA Communications by 0.9% in the first quarter. Northern Trust Corp now owns 1,238,980 shares of the technology company’s stock worth $247,376,000 after purchasing an additional 11,230 shares during the last quarter. 94.24% of the stock is currently owned by 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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