SBA Communications (NASDAQ:SBAC) Lowered to “Hold” at StockNews.com

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

SBAC has been the subject of a number of other reports. Royal Bank of Canada reduced their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. Barclays reduced 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 note on Thursday, May 30th. Wells Fargo & Company reduced their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Finally, KeyCorp dropped 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. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $252.17.

SBA Communications Stock Down 0.3 %

SBA Communications stock opened at $196.30 on Friday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a market cap of $21.09 billion, a P/E ratio of 38.49, a P/E/G ratio of 0.63 and a beta of 0.65. The company’s fifty day simple moving average is $194.93 and its 200-day simple moving average is $213.88.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SBAC. CVA Family Office LLC bought a new position in shares of SBA Communications during the 4th quarter worth about $37,000. Glassman Wealth Services increased its holdings in shares of SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. increased its holdings in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP increased its holdings in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the period. Finally, Quarry LP increased its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares during the period. Institutional investors 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.