SBA Communications (NASDAQ:SBAC – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
Other research analysts have also issued reports about the stock. KeyCorp lowered their price objective on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada lowered their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. TD Cowen cut their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Wells Fargo & Company decreased their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Finally, Citigroup dropped their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $249.08.
SBA Communications Stock Performance
SBAC traded up $1.57 on Tuesday, hitting $195.53. 714,117 shares of the company were exchanged, compared to its average volume of 948,930. The stock’s fifty day moving average is $194.08 and its 200-day moving average is $211.21. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a market cap of $21.01 billion, a PE ratio of 38.28, a PEG ratio of 0.61 and a beta of 0.65.
SBA Communications (NASDAQ:SBAC – Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. During the same quarter in the prior year, the business posted $3.13 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts expect that SBA Communications will post 12.51 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in SBAC. Glenmede Trust Co. NA grew its position in SBA Communications by 11.3% during the third quarter. Glenmede Trust Co. NA now owns 1,228 shares of the technology company’s stock worth $246,000 after buying an additional 125 shares in the last quarter. Public Sector Pension Investment Board raised its stake in SBA Communications by 6.1% in the third quarter. Public Sector Pension Investment Board now owns 22,091 shares of the technology company’s stock valued at $4,422,000 after purchasing an additional 1,265 shares in the last quarter. Wellington Management Group LLP lifted its position in SBA Communications by 1.5% during the third quarter. Wellington Management Group LLP now owns 32,337 shares of the technology company’s stock worth $6,473,000 after purchasing an additional 493 shares during the period. Financial Insights Inc. bought a new stake in SBA Communications during the third quarter worth about $365,000. Finally, Anchor Investment Management LLC acquired a new stake in SBA Communications during the fourth quarter worth about $127,000. Institutional investors and hedge funds own 97.35% of the company’s stock.
About SBA Communications
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.