The stock of SBA Communications Corporation (NASDAQ:SBAC) is a huge mover today! About 624,804 shares traded hands. SBA Communications Corporation (NASDAQ:SBAC) has risen 16.04% since March 1, 2016 and is uptrending. It has outperformed by 6.80% the S&P500.
The move comes after 7 months positive chart setup for the $13.99B company. It was reported on Oct, 4 by Barchart.com. We have $155.43 PT which if reached, will make NASDAQ:SBAC worth $5.32B more.
Analysts await SBA Communications Corporation (NASDAQ:SBAC) to report earnings on November, 2. They expect $0.11 EPS, up 10.00% or $0.01 from last year’s $0.1 per share. SBAC’s profit will be $13.66 million for 255.98 P/E if the $0.11 EPS becomes a reality. After $0.10 actual EPS reported by SBA Communications Corporation for the previous quarter, Wall Street now forecasts 10.00% EPS growth.
SBA Communications Corporation (NASDAQ:SBAC) Ratings Coverage
Out of 8 analysts covering SBA Communications (NASDAQ:SBAC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. SBA Communications has been the topic of 18 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, May 3 by Stifel Nicolaus. The firm earned “Hold” rating on Wednesday, August 26 by Stifel Nicolaus. On Friday, October 2 the stock rating was maintained by Citigroup with “Neutral”. The firm has “Neutral” rating by JP Morgan given on Tuesday, May 3. Stifel Nicolaus upgraded the stock to “Buy” rating in Tuesday, January 26 report. The rating was upgraded by Citigroup on Monday, January 4 to “Buy”. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “” rating given on Friday, November 6 by Pacific Crest. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “Hold” rating given on Friday, May 27 by Deutsche Bank. SunTrust initiated it with “Buy” rating and $129 target price in Tuesday, September 13 report. Macquarie Research downgraded the stock to “Neutral” rating in Monday, October 5 report.
According to Zacks Investment Research, “SBA Communications Corp. is a leading independent owner and operator of wireless communications infrastructure in the United States. The company 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 towers to a variety of wireless service providers under long-term lease contracts. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.01, from 0.95 in 2016Q1. The ratio is positive, as 37 funds sold all SBA Communications Corporation shares owned while 138 reduced positions. 48 funds bought stakes while 120 increased positions. They now own 115.47 million shares or 4.10% less from 120.41 million shares in 2016Q1.
Airain Ltd reported 101,302 shares or 0.63% of all its holdings. Hartford Investment Management has invested 0.08% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Alliancebernstein L P last reported 0.01% of its portfolio in the stock. Gateway Invest Advisers Ltd holds 0.04% or 48,619 shares in its portfolio. Dubuque Comml Bank & Com holds 0% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 87 shares. New Jersey Better Educational Savings Trust holds 0.44% or 6,000 shares in its portfolio. Raymond James Fincl last reported 0.02% of its portfolio in the stock. Qualcomm De last reported 123,100 shares in the company. National Bank Of America De, a North Carolina-based fund reported 1.29 million shares. The United Kingdom-based Legal And General Gru Public Limited Com has invested 0.07% in SBA Communications Corporation (NASDAQ:SBAC). Jefferies Group Limited Liability Com owns 3,378 shares or 0% of their US portfolio. Crosslink Capital holds 6.31% or 324,773 shares in its portfolio. Sumitomo Mitsui Tru Inc last reported 0.07% of its portfolio in the stock. Bnp Paribas Investment Sa reported 34,479 shares or 0.03% of all its holdings. Twin Tree Mngmt Ltd Partnership holds 0.01% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 4,830 shares.
Insider Transactions: Since June 16, 2016, the stock had 2 insider purchases, and 3 insider sales for $14.22 million net activity. 500 shares were bought by COCROFT DUNCAN, worth $54,570. On Tuesday, August 9 the insider SILBERSTEIN JASON V sold $2.57 million. STOOPS JEFFREY sold $11.62M worth of stock. 1,565 shares were sold by Krouse George R Jr, worth $181,290.
More important recent SBA Communications Corporation (NASDAQ:SBAC) news were published by: Reuters.com which released: “BRIEF-SBA Communications Corp says board approves REIT conversion” on October 03, 2016, also Globenewswire.com published article titled: “SBA Communications Corporation to Speak at the Goldman Sachs 25th Annual …”, Globenewswire.com published: “SBA Communications Corporation Announces Pricing of $1.1 Billion of 4.875 …” on August 02, 2016. More interesting news about SBA Communications Corporation (NASDAQ:SBAC) was released by: Globenewswire.com and their article: “SBA Communications Corporation Announces Pricing of $700 Million of Secured …” with publication date: June 21, 2016.
SBAC Company Profile
SBA Communications Corporation, incorporated on December 23, 1996, 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 divisions include site leasing and site development. The site leasing business includes divisions, domestic site leasing and international site leasing. The Company’s primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manages rooftop and tower sites for property owners under various contractual arrangements. The Firm owns approximately 25,460 towers. The Firm also manages or leases approximately 5,500 actual or potential towers. The Company’s other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Company’s principal activities are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America.
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