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

SBA Communications (NASDAQ:SBAC) posted its quarterly earnings data on Monday. The technology company reported $3.47 earnings per share for the quarter, beating 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 %

Shares of SBAC traded down $0.16 during trading on Monday, reaching $212.84. The company’s stock had a trading volume of 1,161,276 shares, compared to its average volume of 757,307. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 0.74 and a beta of 0.69. The company has a fifty day moving average of $202.62 and a two-hundred day moving average of $220.41.

Analysts Set New Price Targets

SBAC has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a report on Monday. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Raymond James lifted their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.00.

Insider Buying and Selling

In other news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.