Canaccord Genuity Reiterates Buy on SBA Communications Corp (SBAC)

By admin | 6 years ago

SBA Communications Corp (NASDAQ: SBAC)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity in a report released on Monday.

Shares of SBA Communications Corp traded up 2.31% during mid-day trading on Monday, hitting $55.03. SBA Communications Corp has a 52 week low of $32.36 and a 52 week high of $54.27. The company’s market cap is $6.039 billion.

The company last announced its quarterly results on Monday, April 30th. It reported ($0.20) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.18) EPS by $0.02. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that SBA Communications Corp will post $-0.17 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray (NYSE: PJC) upgraded shares of SBA Communications Corp from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, April 13rd. They now have a $60.00 price target on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of SBA Communications Corp to $67.00 in a research note to investors on Wednesday, April 11st. Finally, analysts at Citigroup (NYSE: C) upgraded shares of SBA Communications Corp from a “neutral” rating to a “buy” rating in a research note to investors on Monday, April 9th. They now have a $60.00 price target on the stock, up previously from $53.00.

SBA Communications Corporation (SBA) is a holding company that has no operations of its own. SBA conducts all of its business operations through SBA Telecommunications, Inc.

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