The analysts wrote, “SBAC reported strong results that exceeded our estimates for all key financial metrics. In our view, the highlight for the quarter was 22% YoY growth in AFFO/share, which is nearly 2x the growth rates of its peers. SBAC also increased its full year outlook. When adjusting for an earlier Mobilitie close and the planned sale of Mobilitie’s DAS assets, SBAC’s revised outlook is largely in-line with our expectations.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of SBA Communications Corp from $56.00 to $60.00 in a research note to investors on Wednesday. Separately, analysts at Citigroup (NYSE: C) raised their price target on shares of SBA Communications Corp from $60.00 to $62.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of SBA Communications Corp from $54.00 to $62.00 in a research note to investors on Monday.
Shares of SBA Communications Corp traded down 0.42% during mid-day trading on Wednesday, hitting $54.30. SBA Communications Corp has a 52 week low of $32.36 and a 52 week high of $55.45. The company’s market cap is $5.959 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. Analysts expect that SBA Communications Corp will post $-0.17 EPS next quarter.
SBA Communications Corporation (SBA) is an independent owner and operator of wireless communications towers.