Revenue Update on SBA Communications Corporation(NASDAQ:SBAC)

SBA Communications Corporation(NASDAQ:SBAC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $405.53M. Analysts estimated a revenue of $403.98M. Earnings per share were $0.26. Analysts had estimated an EPS of $0.13.

In a different note, On Jul 13, 2016, Citigroup said it Maintains its rating on SBA Communications Corporation. In the research note, the firm Raises the price-target to $112.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Citigroup said it Maintains its rating on SBA Communications Corporation. In the research note, the firm Raises the price-target to $112.00 per share. The shares have been rated ‘Buy’ by the firm. On May 27, 2016, Deutsche Bank said it Maintains its rating on SBA Communications Corporation. In the research note, the firm Lowers the price-target to $106.00 per share. The shares have been rated ‘Hold’ by the firm. On May 3, 2016, JP Morgan said it Downgrades its rating on SBA Communications Corporation. In the research note, the firm Lowers the price-target to $120.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Stifel Nicolaus said it Maintains its rating on SBA Communications Corporation. In the research note, the firm Raises the price-target to $112.00 per share. The shares have been rated ‘Buy’ by the firm.

SBA Communications Corporation (SBAC) made into the market gainers list on Thursdays trading session with the shares advancing 0.34% or 0.38 points. Due to strong positive momentum, the stock ended at $113.59, which is also near the day’s high of $113.6821. The stock began the session at $112.98 and the volume stood at 5,70,163 shares. The 52-week high of the shares is $128.4699 and the 52 week low is $82.8. The company has a current market capitalization of $14,258 M and it has 12,55,24,099 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Duncan Cocroft (director) purchased 1,000 shares at $100.16 per share price.Also, On Mar 17, 2016, Mark R Ciarfella (EVP – Operations) sold 3,950 shares at $95.50 per share price.On Dec 18, 2015, Jason V Silberstein (EVP – Site Leasing) sold 49,491 shares at $101.20 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.

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