SBA Communications (SBAC) Downgraded by BidaskClub to “Strong Sell”

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

SBAC has been the topic of several other research reports. KeyCorp reissued a buy rating and issued a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a research note on Wednesday, November 1st. Royal Bank of Canada reissued a buy rating and issued a $200.00 target price on shares of SBA Communications in a research note on Thursday, November 30th. UBS Group initiated coverage on SBA Communications in a research report on Wednesday, October 18th. They set a buy rating and a $176.00 price target on the stock. Zacks Investment Research raised SBA Communications from a sell rating to a hold rating in a research report on Monday, October 16th. Finally, Cowen reaffirmed a buy rating and set a $147.00 price target on shares of SBA Communications in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $165.07.

SBA Communications (NASDAQ SBAC) traded up $4.14 during trading hours on Tuesday, reaching $165.79. The company’s stock had a trading volume of 1,618,038 shares, compared to its average volume of 1,005,738. SBA Communications has a 1 year low of $102.29 and a 1 year high of $173.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The firm has a market capitalization of $18,979.51, a price-to-earnings ratio of 197.37 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. sell-side analysts expect that SBA Communications will post 0.97 EPS for the current 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 $2,033,950.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in SBA Communications by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock valued at $1,331,442,000 after buying an additional 272,381 shares during the last quarter. American Century Companies Inc. raised its position in SBA Communications by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock valued at $367,734,000 after buying an additional 322,085 shares during the last quarter. Brookfield Asset Management Inc. raised its position in SBA Communications by 37.2% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,192,587 shares of the technology company’s stock valued at $160,880,000 after buying an additional 323,300 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SBA Communications by 70.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock valued at $168,105,000 after buying an additional 480,852 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in SBA Communications in the 2nd quarter valued at approximately $149,091,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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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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