SBA Communications (SBAC) Stock Drops Following Earnings Release

SBA Communications (SBAC) shares are falling despite the company reporting earnings in line with analysts' expectations.
By Tony Owusu ,

NEW YORK (TheStreet) -- SBA Communications (SBAC) - Get Report shares are down 9.16% to $106.86 in afternoon trading on Thursday following the release of the company's third quarter results after the closing bell yesterday.

The Boca Raton, FL-based wireless communication towers owner reported a third quarter net loss of $155.9 million, or adjusted earnings of 10 cents per share, in line with analysts' expectations.

The company reported third quarter revenue of $410.7 million versus analysts' $408.1 million expectations.

For the current quarter the company forecast earnings between $398 million and $408 million versus analysts' $410.2 million expectations.

TheStreet Ratings team rates SBA COMMUNICATIONS CORP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:

We rate SBA COMMUNICATIONS CORP (SBAC) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and revenue growth. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good.

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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