SBA Communications Corporation (NASDAQ:SBAC).
On November 30 the company was upgraded from “Neutral” to “Overweight” by analysts at JP Morgan. On September 13, 2016 SunTrust Robinson Humphrey began coverage by announcing an initial rating of “Buy”.
On July 11 Citigroup maintained a stock rating of “Buy” but raised the price target from $119.00 to $132.00. May 27 investment analysts at Deutsche Bank kept the company rating at “Hold” but moved down the price target to $102.00 from $106.00.
JP Morgan lowered the price target and downgraded the stock on May 3 changing the price objective from $132.00 to $115.00 and moving the rating from “Overweight” to “Neutral”.
In the market the company is trading up since yesterday’s close of $134.27. Shares of the company are trading at $134.30 a tad above the 50 day moving average which is $131.44 and which is marginally over the 200 day moving average of $115.15. The 50 day moving average was up by +2.17% and the 200 day average went up by +16.63%.
SBA Communications Corporation, launched 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 Business’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing. The Business’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 Company owns approximately 25,460 towers. The Company also manages or leases approximately 5,500 actual or potential towers. The Business’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 Business’s principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America..
SBA Communications Corporation’s P/E ratio is 278.63 and the market value is 16.29B. As of the last earnings report the EPS was $0.48 and is projected to be $1.04 for the current year with 121,301,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.23 and the next full year EPS is projected to be $1.63.
Traders are a little more bullish on shares of the company recently looking at the fall in short interest. The firm had a fall in short interest of -0.57% as of May 31, 2017 from the last reporting period. Short interest decreased from 3,167,630 to 3,149,462 over that period. Days to cover decreased -0.1 to 2.5 and the percentage of shorted shares was 0.03% on May 31.