SBA Communications (NASDAQ:SBAC) Announces Quarterly Earnings Results, Beats Expectations By $1.39 EPS

SBA Communications (NASDAQ:SBAC) issued its earnings results on Monday. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $1.39, Zacks reports. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%.

SBA Communications Stock Down 0.1 %

SBAC traded down $0.16 during trading on Monday, reaching $212.84. The stock had a trading volume of 1,161,276 shares, compared to its average volume of 757,307. The stock has a 50 day moving average of $202.62 and a two-hundred day moving average of $220.41. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. SBA Communications has a 1-year low of $183.64 and a 1-year high of $252.64.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays cut their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday. JMP Securities began coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.00.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.