SBA Communications Corporation (NASDAQ:SBAC) is -12.29 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -4.88% to $239.71 from its previous close of $252. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 914267 contracts so far this session. SBAC shares had a relatively better volume day versus average trading capacity of 574.44 thousand shares, but with a 0.11 billion float and a -3.97% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SBAC stock indicates that the average analyst price target is $252.6 per share. This means the stock has a potential increase of 5.38% from where the SBAC share price has been trading recently which is between $251.61 and $262.38.
The shorts are climbing into SBA Communications Corporation (SBAC) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in SBAC shares. While short interest still represents only 1.47% of SBAC’s float, the number of shares shorted have risen by 22286. The number of shares shorted advanced to 1641818 shares, up from 1619532 shares during the preceding fortnight. With average daily trading volumes at 542439 shares, days to cover increased to about 2.686005 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Sba Communications Corp (SBAC) Executive Vice President & CFO Brendan Thomas Cavanagh Sold …” and dated September 06, 2019.
During the recent trading session for SBA Communications Corporation (NASDAQ:SBAC), the company witnessed their stock drop by $-25.79 over a week and tumble down $-14.76 from the price 20 days ago. When compared to their established 52-week high of $270.42, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/05/19. The recent low of $146.13 stood for a -11.36% since 10/15/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.67 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for SBA Communications Corporation, the two-week RSI stands at 32.26. This figure suggests that SBAC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SBAC readings is similarly very revealing as it has a stochastic reading of 13.41% at this stage. This figure means that SBAC share price today is being overbought.
Technical chart claims that SBA Communications Corporation (SBAC) would settle between $259.05/share to $266.1/share level. However, if the stock price goes below the $248.28 mark, then the market for SBA Communications Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $244.56 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -8.61. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at BofA/Merrill lifted target price for shares of SBAC but were stick to Neutral recommendation for the stock in their opinion released on August 14. The price target has been raised from $245 to $260. JP Morgan analysts have lowered their rating of SBA Communications Corporation (NASDAQ:SBAC) stock from Overweight to Neutral in a separate flash note issued to investors on August 01. Analysts at BofA/Merrill lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to July 15.
SBAC equity has an average rating of 2.17, with the figure leaning towards a bullish end. 12 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated SBA Communications Corporation (NASDAQ:SBAC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SBAC stock price is currently trading at 111.46X forward 12-month Consensus EPS estimates, and its P/E ratio is 31.19 while for the average stock in the same group, the multiple is 16.76. SBA Communications Corporation current P/B ratio of NA means it is trading at a premium against its industry’s 1.54.
SBA Communications Corporation (SBAC)’s current-quarter revenues are projected to climb by nearly 6.72% to hit $498610, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 6.93% from $1.87 billion to a noteworthy $1.99 billion. At the other end of the current quarter income statement, SBA Communications Corporation is expected to see its adjusted earnings surge by roughly 8.33% to hit $2.08 per share. For the fiscal year, SBAC’s earnings are projected to climb by roughly 10.39% to hit $8.39 per share.