SBA Communications (NASDAQ:SBAC) PT Lowered to $236.00

SBA Communications (NASDAQ:SBAC) had its target price decreased by equities research analysts at Barclays from $240.00 to $236.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would suggest a potential upside of 7.50% from the stock’s current price.

Several other analysts have also recently weighed in on SBAC. Royal Bank of Canada cut their price objective 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. Citigroup cut their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. The Goldman Sachs Group started coverage on SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective on the stock. Finally, KeyCorp cut their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Two 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.54.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $219.54 on Tuesday. SBA Communications has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a market cap of $23.59 billion, a PE ratio of 43.05, a P/E/G ratio of 0.70 and a beta of 0.65. The stock’s 50-day moving average is $198.84 and its 200 day moving average is $206.84.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.92%. The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the prior year, the firm earned $3.24 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that SBA Communications will post 12.51 EPS for the current fiscal year.

Hedge Funds Weigh In On SBA Communications

Hedge funds have recently added to or reduced their stakes in the company. Glassman Wealth Services raised its holdings in SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. raised its holdings in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in SBA Communications during the 2nd quarter valued at $32,000. Allworth Financial LP raised its stake in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the last quarter. Finally, Quarry LP raised its stake in SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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.