Breaking: What’s SBA Communications Corporation Downside After Today’s Huge Decline?

Breaking: What's SBA Communications Corporation Downside After Today's Huge Decline?

The stock of SBA Communications Corporation (NASDAQ:SBAC) is a huge mover today! The stock decreased 2.37% or $2.65 during the last trading session, hitting $109.05. About 961,830 shares traded hands or 35.37% up from the average. SBA Communications Corporation (NASDAQ:SBAC) has risen 16.35% since March 2, 2016 and is uptrending. It has outperformed by 8.10% the S&P500.
The move comes after 5 months negative chart setup for the $13.58B company. It was reported on Oct, 6 by Barchart.com. We have $99.24 PT which if reached, will make NASDAQ:SBAC worth $1.22B less.

Analysts await SBA Communications Corporation (NASDAQ:SBAC) to report earnings on November, 2. They expect $0.11 earnings per share, up 10.00% or $0.01 from last year’s $0.1 per share. SBAC’s profit will be $13.70 million for 247.84 P/E if the $0.11 EPS becomes a reality. After $0.10 actual earnings per share 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 rating was upgraded by Citigroup on Monday, January 4 to “Buy”. Citigroup maintained SBA Communications Corporation (NASDAQ:SBAC) on Friday, October 2 with “Neutral” rating. Stifel Nicolaus maintained the shares of SBAC in a report on Tuesday, May 3 with “Buy” rating. The firm earned “” rating on Friday, November 6 by Pacific Crest. On Wednesday, August 26 the stock rating was initiated by Stifel Nicolaus with “Hold”. JP Morgan downgraded SBA Communications Corporation (NASDAQ:SBAC) on Tuesday, May 3 to “Neutral” rating. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “Buy” rating given on Monday, July 11 by Citigroup. On Tuesday, January 26 the stock rating was upgraded by Stifel Nicolaus to “Buy”. Deutsche Bank maintained the stock with “Hold” rating in Friday, May 27 report. The company was downgraded on Monday, October 5 by Macquarie Research.

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 increased, 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.
Gateway Investment Advisers Ltd Llc holds 0.04% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 48,619 shares. Whittier last reported 33 shares in the company. Fmr Limited Liability Company accumulated 0.04% or 2.88M shares. Moreover, Akre Cap Management Limited Liability Com has 4.09% invested in SBA Communications Corporation (NASDAQ:SBAC) for 1.87 million shares. Wellington Management Group Incorporated Limited Liability Partnership accumulated 70,359 shares or 0% of the stock. Moreover, Holland Capital Mgmt Limited Liability Company has 1.06% invested in SBA Communications Corporation (NASDAQ:SBAC) for 252,737 shares. Oxford Asset Mngmt reported 27,858 shares or 0.13% of all its holdings. Guggenheim Ltd Limited Liability Company has invested 0.05% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Financial Service last reported 0% of its portfolio in the stock. Ing Groep Nv owns 2,257 shares or 0% of their US portfolio. Soroban Capital Lp holds 1.36% or 2.05M shares in its portfolio. Old Natl Retail Bank In has 0.07% invested in the company for 12,106 shares. Ameritas Investment Prns, a Nebraska-based fund reported 2,215 shares. Signaturefd Limited Liability Company reported 86 shares or 0% of all its holdings. Sentry Corporation holds 147,835 shares or 0.15% of its portfolio.

Insider Transactions: Since June 16, 2016, the stock had 2 insider buys, and 3 sales for $14.22 million net activity. The insider STOOPS JEFFREY sold $11.62M. $2.57M worth of SBA Communications Corporation (NASDAQ:SBAC) was sold by SILBERSTEIN JASON V on Tuesday, August 9. Another trade for 500 shares valued at $54,570 was bought by COCROFT DUNCAN. The insider Krouse George R Jr sold $181,290.

More notable 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 with their article: “SBA Communications Corporation to Speak at the Goldman Sachs 25th Annual …” published on September 14, 2016, 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) were released by: Globenewswire.com and their article: “SBA Communications Corporation Announces Pricing of $700 Million of Secured …” published on June 21, 2016 as well as Finance.Yahoo.com‘s news article titled: “Sba Communications Corp (SBAC) CEO & Pres Jeffrey Stoops Sold $11.6 million of …” with publication date: August 12, 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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