Moffett Nathanson Reaffirms “Neutral” Rating for SBA Communications (NASDAQ:SBAC)

Moffett Nathanson restated their neutral rating on shares of SBA Communications (NASDAQ:SBAC) in a report issued on Monday morning, BenzingaRatingsTable reports. They currently have a $246.00 price objective on the technology company’s stock.

Several other equities research analysts also recently commented on the stock. KeyCorp lifted their price objective on shares of SBA Communications from $195.00 to $215.00 and gave the stock an overweight rating in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Raymond James reiterated an average rating and set a $16.00 price objective on shares of Aeroflex in a research note on Wednesday, May 1st. ValuEngine downgraded shares of Valero Energy from a hold rating to a sell rating in a research note on Wednesday, May 8th. New Street Research downgraded shares of CROWN CASTLE IN/SH SH from a neutral rating to a sell rating and set a $113.00 target price for the company. in a research report on Thursday, June 13th. Finally, BidaskClub upgraded shares of Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications has a consensus rating of Hold and a consensus price target of $208.33.

NASDAQ SBAC traded down $0.79 on Monday, hitting $235.18. The stock had a trading volume of 371,070 shares, compared to its average volume of 657,929. The business has a fifty day moving average of $223.72. SBA Communications has a 52-week low of $146.13 and a 52-week high of $236.90. The company has a market capitalization of $26.58 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 3.00 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($1.66). SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The company had revenue of $493.29 million for the quarter, compared to analyst estimates of $481.06 million. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that SBA Communications will post 7.75 EPS for the current fiscal year.

In other SBA Communications news, CEO Jeffrey Stoops sold 37,847 shares of SBA Communications stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $218.87, for a total value of $8,283,572.89. Following the completion of the transaction, the chief executive officer now owns 255,141 shares of the company’s stock, valued at $55,842,710.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kurt L. Bagwell sold 14,320 shares of SBA Communications stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $225.53, for a total transaction of $3,229,589.60. Following the completion of the transaction, the executive vice president now directly owns 58,375 shares of the company’s stock, valued at approximately $13,165,313.75. The disclosure for this sale can be found here. Insiders have sold 67,978 shares of company stock valued at $14,787,645 over the last 90 days. 2.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC increased its holdings in SBA Communications by 0.6% in the first quarter. Zeke Capital Advisors LLC now owns 9,976 shares of the technology company’s stock valued at $1,992,000 after buying an additional 56 shares in the last quarter. Parallel Advisors LLC increased its holdings in SBA Communications by 27.0% in the first quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock valued at $53,000 after buying an additional 57 shares in the last quarter. CWM LLC increased its holdings in SBA Communications by 31.4% in the first quarter. CWM LLC now owns 243 shares of the technology company’s stock valued at $49,000 after buying an additional 58 shares in the last quarter. Suntrust Banks Inc. increased its holdings in SBA Communications by 4.1% in the fourth quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock valued at $242,000 after buying an additional 59 shares in the last quarter. Finally, ETF Managers Group LLC increased its stake in shares of SBA Communications by 10.1% during the first quarter. ETF Managers Group LLC now owns 836 shares of the technology company’s stock worth $167,000 after purchasing an additional 77 shares in the last quarter. 94.24% of the stock is owned by 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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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