SBA Communications Posted Solid Results and Raised Full-Year Outlook; Shares Fairly Valued
SBA Communications posted first-quarter results that exceeded management’s expectations but were largely in line with our expectations. Total revenue grew 6% from a year ago, on stable growth in domestic leasing and robust growth internationally. Reported adjusted EBITDA also grew about 6% year over year, although both revenue and profitability were helped in part by favorable exchange rate movements. Management also raised its 2017 outlook on revenue and EBITDA, as they expect solid domestic de...SBA Communications is a holding company. Through its subsidiaries, the company is an owner and operator of wireless communications infrastructure, including tower structures, rooftops, and other structures that support antennas used for wireless communications. The company's operations are in the U.S. and its territories. In its site leasing business, the company leases antenna space to wireless service providers on towers that the company owns or operates and manages rooftop and tower sites for property owners under various contractual arrangements. In its site development business, the company assists wireless service providers in developing and maintaining their own wireless service networks.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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