SBA Communications Co. (NASDAQ:SBAC) – Analysts at SunTrust Banks lifted their Q2 2018 earnings per share (EPS) estimates for shares of SBA Communications in a report issued on Wednesday, Zacks Investment Research reports. SunTrust Banks analyst G. Miller now anticipates that the technology company will earn $0.38 per share for the quarter, up from their previous estimate of $0.35. SunTrust Banks also issued estimates for SBA Communications’ Q1 2019 earnings at $0.49 EPS, Q2 2019 earnings at $0.57 EPS and Q3 2019 earnings at $0.61 EPS.
Other analysts also recently issued research reports about the company. UBS Group initiated coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target on the stock. KeyCorp restated an “overweight” rating and issued a $192.00 price target (up previously from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Cowen restated a “buy” rating and issued a $147.00 price target on shares of SBA Communications in a research note on Tuesday, October 17th. Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub downgraded SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. SBA Communications has a consensus rating of “Buy” and an average target price of $160.43.
Shares of SBA Communications (SBAC) traded down $2.73 during trading hours on Monday, hitting $160.63. The stock had a trading volume of 931,554 shares, compared to its average volume of 761,950. SBA Communications has a 12-month low of $102.06 and a 12-month high of $173.97. The company has a market cap of $19,200.00, a price-to-earnings ratio of 191.23 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32.
SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $431.42 million. During the same quarter in the prior year, the company earned ($0.12) EPS. The business’s revenue was up 5.5% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after buying an additional 120 shares during the period. Creative Planning lifted its holdings in shares of SBA Communications by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after buying an additional 253 shares during the period. Sun Life Financial INC bought a new position in shares of SBA Communications during the 3rd quarter valued at $127,000. Acadian Asset Management LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at $159,000. Finally, Advisor Group Inc. lifted its holdings in shares of SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after buying an additional 114 shares during the period. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction on 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 directly owns 11,999 shares in the company, valued at approximately $2,033,950.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.
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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.
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