Scotiabank Has Lowered Expectations for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its price target decreased by equities research analysts at Scotiabank from $252.00 to $233.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the technology company’s stock. Scotiabank’s target price points to a potential upside of 21.36% from the company’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Royal Bank Of Canada decreased their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. BMO Capital Markets lowered their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. UBS Group set a $233.00 price target on shares of SBA Communications in a research report on Wednesday. Finally, Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $233.59.

SBA Communications Stock Down 0.0%

Shares of NASDAQ:SBAC opened at $191.99 on Wednesday. SBA Communications has a twelve month low of $179.89 and a twelve month high of $245.16. The stock’s 50 day moving average is $192.02 and its 200-day moving average is $203.82. The firm has a market capitalization of $20.46 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.69 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. The business had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. SBA Communications’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.32 EPS. Equities research analysts anticipate that SBA Communications will post 12.57 earnings per share for the current fiscal year.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Elevation Wealth Partners LLC boosted its holdings in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the period. Quent Capital LLC purchased a new stake in shares of SBA Communications during the third quarter worth $27,000. CVA Family Office LLC boosted its holdings in shares of SBA Communications by 106.3% in the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the period. Fulcrum Asset Management LLP purchased a new position in shares of SBA Communications in the third quarter valued at $32,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.