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

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

Several other equities analysts have also commented on SBAC. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada decreased their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Citigroup decreased their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, KeyCorp decreased their price objective 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. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $252.17.

SBA Communications Price Performance

NASDAQ:SBAC opened at $196.30 on Friday. The firm has a market capitalization of $21.09 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 0.63 and a beta of 0.65. The company’s 50-day moving average is $194.93 and its two-hundred day moving average is $213.88. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

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

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Quaero Capital S.A. grew its position in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after buying an additional 50 shares during the last quarter. Marks Group Wealth Management Inc grew its position in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. Ballentine Partners LLC grew its position in shares of SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after buying an additional 55 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position in shares of SBA Communications by 3.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after buying an additional 58 shares during the last quarter. 97.35% of the stock is 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.