It Seems SBA Communications Corporation (SBAC) Will Go Up. Formed A Few Months Multiple Top

May 17, 2018 - By Shawn Hawthorne

Investors sentiment increased to 2 in Q4 2017. Its up 2.00, from 0 in 2017Q3. It is positive, as 2 investors sold SBA Communications Corporation shares while 0 reduced holdings. 3 funds opened positions while 1 raised stakes. 2.57 million shares or 18.94% less from 3.17 million shares in 2017Q3 were reported.
Magellan Asset Management invested in 79,702 shares or 0.04% of the stock. Eqis Capital Mngmt holds 0.01% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 1,407 shares. Akre Cap Management Ltd Liability holds 2.47M shares. Hanseatic Mngmt Serv Inc stated it has 226 shares. Cibc Mkts Corporation accumulated 23,805 shares.

Since March 12, 2018, it had 1 insider buy, and 0 selling transactions for $83,645 activity.

The stock of SBA Communications Corporation (SBAC) shows a multiple tops pattern with $163.19 target or 4.00 % above today’s $156.92 share price. The 8 months chart pattern indicates low risk for the $18.08B company. It was reported on May, 17 by Finviz.com. If the $163.19 price target is reached, the company will be worth $723.00M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.53% or $0.834 during the last trading session, reaching $156.916. About 218,336 shares traded. SBA Communications Corporation (NASDAQ:SBAC) has risen 44.40% since May 17, 2017 and is uptrending. It has outperformed by 32.85% the S&P500.

Analysts await SBA Communications Corporation (NASDAQ:SBAC) to report earnings on July, 30. They expect $0.19 earnings per share, 0.00 % or $0.00 from last year’s $0.19 per share. SBAC’s profit will be $21.89M for 206.47 P/E if the $0.19 EPS becomes a reality. After $0.27 actual earnings per share reported by SBA Communications Corporation for the previous quarter, Wall Street now forecasts -29.63 % negative EPS growth.

SBA Communications Corporation (NASDAQ:SBAC) Ratings Coverage

Among 11 analysts covering SBA Comms (NASDAQ:SBAC), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. SBA Comms has $200.0 highest and $170 lowest target. $183.45’s average target is 16.91% above currents $156.916 stock price. SBA Comms had 14 analyst reports since November 27, 2017 according to SRatingsIntel. Cowen & Co maintained the stock with “Buy” rating in Tuesday, February 27 report. The firm has “Buy” rating given on Wednesday, November 29 by RBC Capital Markets. The stock of SBA Communications Corporation (NASDAQ:SBAC) earned “Neutral” rating by Citigroup on Wednesday, February 28. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “Buy” rating given on Monday, November 27 by KeyBanc Capital Markets. Guggenheim maintained it with “Buy” rating and $190.0 target in Tuesday, February 27 report. Wells Fargo maintained the stock with “Market Perform” rating in Tuesday, February 27 report. The firm has “Buy” rating given on Wednesday, December 6 by SunTrust. On Wednesday, January 17 the stock rating was maintained by Guggenheim with “Buy”. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “Overweight” rating given on Tuesday, February 27 by KeyBanc Capital Markets. The stock of SBA Communications Corporation (NASDAQ:SBAC) earned “Overweight” rating by Morgan Stanley on Friday, March 16.

More recent SBA Communications Corporation (NASDAQ:SBAC) news were published by: Seekingalpha.com which released: “SBA Communications logs Q1 beat with healthy margins” on April 30, 2018. Also Streetinsider.com published the news titled: “Lone Pine’s 13F Shows New Stake in Dollar Tree (DLTR), Square (SQ), T-Mobile (TMUS) (more…)” on May 15, 2018. Seekingalpha.com‘s news article titled: “SBA Communications’ (SBAC) CEO Jeff Stoops on Q1 2018 Results – Earnings Call Transcript” with publication date: May 01, 2018 was also an interesting one.

SBA Communications Corporation operates as a real estate investment trust. The company has market cap of $18.08 billion. The firm operates through two divisions, Site Leasing and Site Development. It has a 182.46 P/E ratio. It owns and operates wireless communications infrastructure, including tower structures, rooftop, and other structures that support antennas used for wireless communications.

SBA Communications Corporation (NASDAQ:SBAC) Ratings Chart

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