Ratings Change: JPMorgan Says Its Time To Upgrade SBA Comm (SBAC)

November 30, 2016 - By Linda Rogers

Ratings Change:  JPMorgan Says Its Time To Upgrade SBA Comm (SBAC)

SBA Comm (SBAC) Upgrade

In a a research report released on Wednesday morning, equity research analysts at JPMorgan’s equities division upped SBA Comm (SBAC)‘s stock from a Neutral to Overweight.

About 335,721 shares traded hands. SBA Communications Corporation (SBAC) has declined 4.78% since April 27, 2016 and is downtrending. It has underperformed by 10.01% the S&P500.

Analysts await SBA Communications Corporation (NASDAQ:SBAC) to report earnings on February, 23. They expect $0.08 EPS, down 66.67% or $0.16 from last year’s $0.24 per share. SBAC’s profit will be $9.94 million for 314.06 P/E if the $0.08 EPS becomes a reality. After $-0.12 actual EPS reported by SBA Communications Corporation for the previous quarter, Wall Street now forecasts -166.67% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.05 in 2016 Q2. Its up 0.09, from 0.96 in 2016Q1. The ratio is positive, as 37 funds sold all SBA Communications Corporation shares owned while 138 reduced positions. 48 funds bought stakes while 120 increased positions. They now own 115.47 million shares or 4.10% less from 120.41 million shares in 2016Q1.

British Columbia Inv Management owns 91,875 shares or 0.09% of their US portfolio. Avenir holds 12,708 shares or 0.11% of its portfolio. Axel Cap Management Ltd Com owns 7,000 shares or 0.67% of their US portfolio. Cowen Gru holds 31,707 shares or 0.23% of its portfolio. Hsbc Public Ltd Co last reported 23,085 shares in the company. Fjarde Ap last reported 0.09% of its portfolio in the stock. Tarbox Group Inc holds 0% or 10 shares in its portfolio. Fairview Cap Inv Management Lc has 12.78% invested in the company for 1.46M shares. Veritable Ltd Partnership has invested 0.01% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Pitcairn accumulated 18,353 shares or 0.25% of the stock. Mar Vista Invest Prns Limited Liability Corporation, a California-based fund reported 1,089 shares. Td Asset Management Inc accumulated 0.01% or 68,617 shares. Next Fincl Grp Incorporated has 8 shares for 0% of their US portfolio. Criterion Capital Ltd Liability, a California-based fund reported 1.11 million shares. Moreover, Highbridge Capital Mngmt Limited has 0.01% invested in SBA Communications Corporation (NASDAQ:SBAC) for 5,223 shares.

Insider Transactions: Since June 16, 2016, the stock had 2 insider purchases, and 3 insider sales for $14.22 million net activity. COCROFT DUNCAN also bought $54,570 worth of SBA Communications Corporation (NASDAQ:SBAC) shares. $11.62M worth of SBA Communications Corporation (NASDAQ:SBAC) was sold by STOOPS JEFFREY on Tuesday, August 9. The insider SILBERSTEIN JASON V sold $2.57M. Another trade for 1,565 shares valued at $181,290 was sold by Krouse George R Jr.

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 has a market cap of $12.49 billion. The Company’s operating divisions include site leasing and site development. It has a 124.36 P/E ratio. The site leasing business includes divisions, domestic site leasing and international site leasing.

According to Zacks Investment Research, “SBA Communications Corp. is a leading independent owner and operator of wireless communications infrastructure in the United States. The company generates revenue from two primary businesses — site leasing and site development services. The primary focus of the company is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts. (PRESS RELEASE)”

SBAC Company Profile

SBA Communications Corporation, incorporated 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 Company’s operating divisions include site leasing and site development. The site leasing business includes divisions, domestic site leasing and international site leasing. 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 manages rooftop and tower sites for property owners under various contractual arrangements. The Firm owns approximately 25,460 towers. The Firm also manages or leases approximately 5,500 actual or potential towers. The Company’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 Company’s principal activities are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America.

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