SBA Communications Corporation (NASDAQ:SBAC) Given Average Rating of “Moderate Buy” by Brokerages

SBA Communications Corporation (NASDAQ:SBAC) has earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $235.1765.

SBAC has been the topic of a number of research reports. Barclays decreased their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Scotiabank lowered their target price on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Williams Trading set a $237.00 price objective on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada decreased their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, November 10th.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in SBA Communications by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock worth $42,202,000 after buying an additional 5,246 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of SBA Communications by 58.2% during the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock valued at $1,292,000 after acquiring an additional 2,023 shares during the last quarter. Donoghue Forlines LLC acquired a new stake in shares of SBA Communications during the second quarter valued at $2,824,000. SteelPeak Wealth LLC purchased a new stake in SBA Communications during the 3rd quarter worth about $2,618,000. Finally, Vontobel Holding Ltd. acquired a new position in SBA Communications in the 2nd quarter valued at about $453,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

NASDAQ SBAC opened at $180.51 on Friday. SBA Communications has a 12 month low of $177.73 and a 12 month high of $245.16. The stock has a market capitalization of $19.23 billion, a P/E ratio of 23.53, a PEG ratio of 1.75 and a beta of 0.87. The firm’s 50-day moving average is $188.84 and its two-hundred day moving average is $198.83.

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

About SBA Communications

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.