SBA Communications (NASDAQ:SBAC) posted its earnings results on Monday. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($1.64), Fidelity Earnings reports. SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The business had revenue of $467.20 million during the quarter, compared to analyst estimates of $459.17 million. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.
Shares of SBA Communications stock traded up $3.63 during trading on Wednesday, reaching $169.85. The stock had a trading volume of 190,565 shares, compared to its average volume of 859,216. SBA Communications has a 52 week low of $146.13 and a 52 week high of $177.67.
In related news, CEO Jeffrey Stoops sold 40,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $160.05, for a total transaction of $6,402,000.00. Following the sale, the chief executive officer now owns 252,180 shares in the company, valued at $40,361,409. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. Carr sold 800 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total value of $124,000.00. Following the sale, the director now owns 3,070 shares in the company, valued at approximately $475,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,805 shares of company stock worth $12,693,203. Corporate insiders own 2.70% of the company’s stock.
A number of research analysts have issued reports on the company. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. BidaskClub cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Macquarie decreased their target price on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a research note on Wednesday, August 29th. ValuEngine cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley cut their price target on SBA Communications from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Thursday, August 16th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus target price of $179.80.
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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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