SBA Communications Corp (NQ: SBAC)
90.64 USD  -0.37 (-0.41%)
Official Closing Price  /  Updated: 8:10 PM EDT, Apr 24, 2014  /  Add to My Watchlist      
(SBAC) Community Analysis from
April 24, 2014
(Penny Stock DD, 3/22/11)
Brightpoint, Inc. (NASDAQ:CELL) witnessed the correction of 15.28% and closed at $10.70 whereas overall traded volume stood at 3.27 million shares for the day. The company...(read more)
(Benzinga, 10/29/10)
Benchmark Capital is maintaining its Buy rating on SBA Communications Corporation (NASDAQ: SBAC) after the company reported better than expected earnings. It has a $45 price target on shares. In a note to clients, Benchmark writes,...(read more)
(Benzinga, 10/6/10)
Benchmark Capital is out with a research report discussing the cell phone tower companies, American Tower Corporation (NYSE: AMT), Crown Castle International Corp. (NYSE: CCI), and SBA Communications Corporation (NASDAQ: SBAC). It has...(read more)
SBA Communications (SBAC) Company Overview
SBA Communications leases about 6,000 cell phone towers[1] to major wireless service providers, including Verizon Communications (VZ), Sprint Nextel (S), T-Mobile, Alltel, and AT&T (T). The company trails leading rivals Crown Castle International (CCI) and American Tower (AMT) in terms of market share, with around 11% of total industry revenue in the U.S. SBA has fewer towers and generates less revenue per tower, as it does not enjoy the scale and efficiencies of its rivals.

Cell phone towers derive revenue from multiple tenants who use the infrastructure simultaneously. Because of the regulatory difficulty of building new towers (at least domestically), growth is largely driven by adding tenants to existing towers. This gives the tower companies significant barriers to entry and strong cash flow from incremental business at each tower.

The company's fortunes depend on the success of the wireless communications business. The industry grew 38% growth from 2004 to 2006,[2] driven by greater market saturation and higher levels of cell phones per user and per household. As the US wireless market matures with a penetration near 75%[3], growth domestically will eventually slow and likely be dependent on higher cell phones per capita as well as incremental subscriber airtime. The company had no international operations as of the end of 2006, giving its competitors a head start in capitalizing on emerging cell phone markets. Furthermore, it is only about 50% exposed to the most quickly growing regions of the US, compared to about 70% for its competitors.

(Read more at Wikinvest )

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