SBA Communications (SBAC) Stock Rating Reaffirmed by Cowen

SBA Communications (NASDAQ:SBAC)‘s stock had its “buy” rating reissued by equities researchers at Cowen in a note issued to investors on Tuesday. They currently have a $170.00 price objective on the technology company’s stock, up from their previous price objective of $155.00. Cowen’s price objective indicates a potential upside of 2.16% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $200.00 price objective on shares of SBA Communications in a research note on Thursday, November 30th. KeyCorp reiterated an “overweight” rating and issued a $192.00 price objective (up previously from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Morgan Stanley lifted their price objective on SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. UBS began coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective for the company. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $159.40.

SBA Communications (NASDAQ SBAC) opened at $166.40 on Tuesday. SBA Communications has a twelve month low of $97.72 and a twelve month high of $173.97. The company has a market capitalization of $19,261.61, a PE ratio of 204.84 and a beta of 0.77. 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 announced its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $1.50. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company had revenue of $433.90 million during the quarter, compared to analysts’ expectations of $431.42 million. During the same period last year, the business posted ($0.12) EPS. SBA Communications’s revenue for the quarter was up 5.5% on a year-over-year basis. equities analysts anticipate that SBA Communications will post 0.96 earnings per share for the current fiscal year.

In other news, Director George R. Krouse, Jr. sold 1,999 shares of the firm’s 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 sale, the director now owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. Cadence Capital Management LLC increased its position in SBA Communications by 0.8% during the second quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock worth $656,000 after buying an additional 40 shares during the period. Advisor Group Inc. increased its position in SBA Communications by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares during the period. D.A. Davidson & CO. increased its position in SBA Communications by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares during the period. Toronto Dominion Bank increased its position in SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after buying an additional 129 shares during the period. Finally, Fiduciary Financial Services of The Southwest Inc. TX increased its position in SBA Communications by 5.1% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,671 shares of the technology company’s stock worth $360,000 after buying an additional 130 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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SBA Communications Company Profile

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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