BidaskClub upgraded shares of SBA Communications (NASDAQ:SBAC) from a strong sell rating to a sell rating in a research report released on Thursday morning.
A number of other analysts have also recently issued reports on SBAC. Morgan Stanley reduced their price objective on shares of SBA Communications from $182.00 to $180.00 and set an overweight rating for the company in a research note on Thursday, May 31st. Zacks Investment Research cut shares of SBA Communications from a hold rating to a strong sell rating in a research note on Tuesday, July 10th. Deutsche Bank increased their price objective on shares of SBA Communications from $170.00 to $183.00 and gave the stock a hold rating in a research note on Wednesday, August 1st. ValuEngine cut shares of SBA Communications from a buy rating to a hold rating in a research note on Thursday, August 2nd. Finally, Macquarie reduced their price objective on shares of SBA Communications from $166.00 to $161.00 and set a neutral rating for the company in a research note on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. SBA Communications currently has an average rating of Hold and an average target price of $179.55.
Shares of NASDAQ SBAC traded up $0.30 during midday trading on Thursday, reaching $158.36. The stock had a trading volume of 10,043 shares, compared to its average volume of 681,686. The company has a debt-to-equity ratio of -3.18, a current ratio of 1.18 and a quick ratio of 1.18. SBA Communications has a 12-month low of $140.62 and a 12-month high of $177.67.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 30th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.68). The firm had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $457.43 million. SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. equities analysts expect that SBA Communications will post 7.07 EPS for the current year.
In related news, EVP Kurt L. Bagwell sold 126,605 shares of the firm’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the completion of the transaction, the executive vice president now directly owns 42,089 shares of the company’s stock, valued at $6,947,210.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Stoops sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $154.16, for a total transaction of $6,166,400.00. Following the transaction, the chief executive officer now directly owns 268,756 shares of the company’s stock, valued at $41,431,424.96. The disclosure for this sale can be found here. Insiders have sold 251,795 shares of company stock valued at $40,974,681 over the last ninety days. 2.70% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. HRT Financial LLC purchased a new position in shares of SBA Communications in the 2nd quarter worth $201,000. Advisors Asset Management Inc. grew its stake in shares of SBA Communications by 48.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 7,704 shares of the technology company’s stock worth $758,000 after buying an additional 2,510 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of SBA Communications in the 2nd quarter worth $636,000. DF Dent & Co. Inc. grew its stake in shares of SBA Communications by 35.5% in the 2nd quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock worth $33,664,000 after buying an additional 53,456 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of SBA Communications in the 2nd quarter worth $4,872,000. 94.48% of the stock is owned by institutional investors and hedge funds.
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.
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