SBA Communications (NASDAQ:SBAC) Stock Rating Lowered by StockNews.com

SBA Communications (NASDAQ:SBAC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms have also commented on SBAC. TD Cowen lowered their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. Barclays cut their price objective on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. KeyCorp decreased their target price on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Finally, Royal Bank of Canada cut their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One research analyst has 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 MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $252.17.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $196.95 on Friday. The firm has a 50-day moving average of $194.90 and a 200-day moving average of $214.50. SBA Communications has a 52-week low of $183.64 and a 52-week high of $258.76. The stock has a market cap of $21.16 billion, a PE ratio of 38.62, a PEG ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter in the previous year, the firm posted $3.13 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts predict that SBA Communications will post 12.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SBA Communications

Several hedge funds have recently modified their holdings of SBAC. Principal Financial Group Inc. raised its position in SBA Communications by 54.9% in the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after purchasing an additional 1,524,302 shares during the last quarter. Norges Bank acquired a new stake in SBA Communications during the 4th quarter worth approximately $286,079,000. Ameriprise Financial Inc. grew its holdings in SBA Communications by 115.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after acquiring an additional 727,163 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in SBA Communications by 111.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock valued at $186,410,000 after acquiring an additional 387,855 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of SBA Communications by 144.7% during the first quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock valued at $77,955,000 after acquiring an additional 212,739 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.