SBA Communications’ (SBAC) Overweight Rating Reaffirmed at KeyCorp

KeyCorp reissued their overweight rating on shares of SBA Communications (NASDAQ:SBAC) in a research report sent to investors on Monday, November 27th, The Fly reports. They currently have a $192.00 price objective on the technology company’s stock, up from their prior price objective of $179.00. KeyCorp also issued estimates for SBA Communications’ Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.19 EPS and FY2019 earnings at $1.84 EPS.

A number of other analysts have also recently commented on SBAC. UBS began coverage on SBA Communications in a research report on Wednesday, October 18th. They set a buy rating and a $176.00 target price on the stock. BidaskClub raised SBA Communications from a buy rating to a strong-buy rating in a report on Tuesday, August 22nd. Cowen reissued a buy rating and set a $147.00 price target on shares of SBA Communications in a research note on Tuesday, October 17th. Stifel Nicolaus restated a buy rating and set a $160.00 price objective (up from $148.00) on shares of SBA Communications in a research report on Tuesday, August 1st. Finally, Jefferies Group boosted their price objective on shares of SBA Communications from $150.00 to $159.00 and gave the company a buy rating in a research note on Tuesday, August 1st. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $159.40.

SBA Communications (SBAC) traded up $1.67 on Monday, hitting $163.87. The stock had a trading volume of 1,246,600 shares, compared to its average volume of 1,201,708. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. The company has a market cap of $19,065.31, a price-to-earnings ratio of 202.75 and a beta of 0.77. SBA Communications has a 52-week low of $97.16 and a 52-week high of $173.97.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $431.42 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. research analysts forecast that SBA Communications will post 0.96 earnings per share for the current fiscal year.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the transaction, the director now directly owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after purchasing an additional 129 shares during the period. State Treasurer State of Michigan bought a new stake in SBA Communications in the third quarter valued at approximately $5,258,000. Oakbrook Investments LLC bought a new position in shares of SBA Communications during the third quarter valued at approximately $828,000. SG Americas Securities LLC raised its holdings in shares of SBA Communications by 160.5% during the second quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,781 shares in the last quarter. Finally, Delta Lloyd Asset Management N.V. bought a new position in shares of SBA Communications during the second quarter valued at approximately $3,475,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

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SBA Communications Company Profile

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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