SBA Communications Co. (NASDAQ:SBAC) SVP Brian D. Lazarus sold 20,676 shares of SBA Communications stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $261.00, for a total value of $5,396,436.00. Following the completion of the sale, the senior vice president now owns 17,829 shares in the company, valued at $4,653,369. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of SBAC stock opened at $260.53 on Friday. The stock has a fifty day moving average price of $243.03 and a 200 day moving average price of $212.52. The stock has a market cap of $29.44 billion, a PE ratio of 34.28, a P/E/G ratio of 3.33 and a beta of 0.69. SBA Communications Co. has a 1 year low of $146.13 and a 1 year high of $263.04.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($1.58). The firm had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.50) earnings per share. As a group, sell-side analysts anticipate that SBA Communications Co. will post 7.83 EPS for the current year.
A number of research firms recently weighed in on SBAC. Raymond James downgraded SBA Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Bank of America restated a “neutral” rating and issued a $260.00 price target (up from $245.00) on shares of SBA Communications in a research note on Wednesday, August 14th. JPMorgan Chase & Co. downgraded SBA Communications from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $270.00 in a research note on Thursday, August 1st. Morgan Stanley lifted their price target on SBA Communications from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $230.85.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in SBA Communications by 5.0% during the second quarter. BlackRock Inc. now owns 10,196,949 shares of the technology company’s stock worth $2,292,683,000 after purchasing an additional 486,674 shares during the last quarter. Cohen & Steers Inc. raised its holdings in SBA Communications by 28.0% during the second quarter. Cohen & Steers Inc. now owns 4,522,092 shares of the technology company’s stock worth $1,016,747,000 after purchasing an additional 990,368 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in SBA Communications by 6.5% during the second quarter. Canada Pension Plan Investment Board now owns 2,164,605 shares of the technology company’s stock worth $486,690,000 after purchasing an additional 132,509 shares during the last quarter. Geode Capital Management LLC raised its holdings in SBA Communications by 5.7% during 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. Finally, Commonwealth Bank of Australia raised its holdings in SBA Communications by 24.7% during 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. 93.54% of the stock is owned by hedge funds and other 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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