KeyCorp Analysts Reduce Earnings Estimates for SBA Communications Co. (SBAC)

SBA Communications Co. (NASDAQ:SBAC) – Equities research analysts at KeyCorp dropped their FY2018 EPS estimates for SBA Communications in a research report issued on Monday, February 11th. KeyCorp analyst B. Nispel now expects that the technology company will post earnings per share of $7.13 for the year, down from their previous forecast of $7.15. KeyCorp currently has a “Overweight” rating and a $195.00 price target on the stock. KeyCorp also issued estimates for SBA Communications’ Q1 2019 earnings at $1.91 EPS, Q2 2019 earnings at $1.89 EPS, Q3 2019 earnings at $2.01 EPS and Q4 2019 earnings at $2.10 EPS.

Several other equities analysts have also recently issued reports on SBAC. Guggenheim set a $180.00 price objective on shares of SBA Communications and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Citigroup raised shares of SBA Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $175.00 to $187.00 in a research note on Wednesday, October 31st. BidaskClub raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 price objective on the stock in a research note on Thursday, November 15th. Finally, Bank of America set a $189.00 price objective on shares of SBA Communications and gave the stock a “buy” rating in a research note on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $182.00.

Shares of SBAC opened at $184.34 on Thursday. SBA Communications has a 12-month low of $146.13 and a 12-month high of $184.98.

In other SBA Communications news, Director Duncan Cocroft sold 12,543 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $171.85, for a total value of $2,155,514.55. Following the completion of the transaction, the director now directly owns 75,742 shares in the company, valued at $13,016,262.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brendan Thomas Cavanagh sold 147,717 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $172.16, for a total transaction of $25,430,958.72. Following the completion of the transaction, the insider now owns 81,810 shares of the company’s stock, valued at $14,084,409.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 406,060 shares of company stock valued at $69,939,407. Corporate insiders own 2.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Legacy Financial Advisors Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $25,000. Resources Investment Advisors Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $28,000. CWM LLC boosted its holdings in shares of SBA Communications by 49.2% during the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock worth $30,000 after purchasing an additional 61 shares during the period. We Are One Seven LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $34,000. Finally, Private Capital Group LLC boosted its holdings in shares of SBA Communications by 38.7% during the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock worth $37,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 96.36% of the company’s stock.

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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