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Guggenheim set a $180.00 price target on SBA Communications (NASDAQ:SBAC) in a research report sent to investors on Wednesday, October 17th. The brokerage currently has a buy rating on the technology company’s stock.
A number of other research badysts have also recently issued reports on SBAC. BidaskClub raised shares of SBA Communications from a hold rating to a buy rating in a research note on Wednesday, June 27th. 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 lifted their price objective on shares of SBA Communications from $170.00 to $183.00 and gave the company 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, Morgan Stanley decreased their target price on shares of SBA Communications from $180.00 to $176.00 and set an overweight rating on the stock in a research note on Thursday, August 16th. Five badysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $179.80.
Shares of SBAC traded down $0.01 during mid-day trading on Wednesday, hitting $171.51. 911,257 shares of the company’s stock were exchanged, compared to its average volume of 962,439. SBA Communications has a 52 week low of $146.13 and a 52 week high of $177.67.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing badysts’ consensus estimates of $1.78 by ($1.64). The firm had revenue of $467.20 million during the quarter, compared to the consensus estimate of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.75 earnings per share. As a group, equities badysts predict that SBA Communications will post 7.11 EPS for the current year.
In other news, Director Brian C. Carr sold 800 shares of SBA Communications stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total transaction of $124,000.00. Following the transaction, the director now owns 3,070 shares in the company, valued at $475,850. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Stoops sold 80,000 shares of SBA Communications stock in a transaction on Friday, November 9th. The stock was sold at an average price of $171.10, for a total transaction of $13,688,000.00. Following the transaction, the chief executive officer now owns 214,943 shares in the company, valued at approximately $36,776,747.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,590 shares of company stock worth $29,648,300. 2.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in SBAC. Principal Financial Group Inc. lifted its holdings in SBA Communications by 0.3% in the first quarter. Principal Financial Group Inc. now owns 5,319,778 shares of the technology company’s stock valued at $909,256,000 after buying an additional 14,838 shares during the period. Lord Abbett & CO. LLC lifted its holdings in SBA Communications by 175.5% in the first quarter. Lord Abbett & CO. LLC now owns 67,220 shares of the technology company’s stock valued at $11,489,000 after buying an additional 42,817 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in SBA Communications by 8.1% in the first quarter. The Manufacturers Life Insurance Company now owns 122,837 shares of the technology company’s stock valued at $20,996,000 after buying an additional 9,187 shares during the period. Natixis acquired a new position in SBA Communications in the first quarter valued at $266,000. Finally, Element Capital Management LLC acquired a new position in SBA Communications in the first quarter valued at $201,000. Institutional investors and hedge funds own 94.37% of the company’s stock.
SBA Communications Company Profile
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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