SBA Communications Corporation (SBAC) is Initiated by SunTrust to Buy, Price Target at $129

SBA Communications Corporation (SBAC) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $129. SunTrust advised their investors in a research report released on Sep 13, 2016.

On the company’s financial health, SBA Communications Corporation reported $1.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $405.50 million for the quarter, compared to analysts expectations of $403.45 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.

SBA Communications Corporation opened for trading at $109.44 and hit $112.13 on the upside on Monday, eventually ending the session at $111.51, with a gain of 1.08% or 1.19 points. The heightened volatility saw the trading volume jump to 1,215,126 shares. Company has a market cap of $13,896 M.

In a different news, on Aug 11, 2016, Jason V Silberstein (EVP – Site Leasing) sold 22,192 shares at $115.68 per share price. According to the SEC, on Aug 11, 2016, Jeffrey Stoops (Chief Executive Officer & Pres) sold 100,000 shares at $116.40 per share price. On Aug 11, 2016, George R Jr Krouse (director) sold 1,565 shares at $115.84 per share price, according to the Form-4 filing with the securities and exchange commission.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures rooftops and other structures that support antennas used for wireless communications. The Company operated through two segments namely site leasing and site development. The Company’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 manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5000 actual or potential towers. Its 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 Company’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

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