Research Analysts’ Recent Ratings Changes for SBA Communications (SBAC)

Several brokerages have updated their recommendations and price targets on shares of SBA Communications (NASDAQ: SBAC) in the last few weeks:

• 4/30/2024 – SBA Communications had its price target lowered by analysts at Wells Fargo & Company from $260.00 to $230.00. They now have an “overweight” rating on the stock.
• 4/30/2024 – SBA Communications had its price target lowered by analysts at Barclays PLC from $255.00 to $241.00. They now have an “overweight” rating on the stock.
• 4/30/2024 – SBA Communications had its price target lowered by analysts at KeyCorp from $276.00 to $227.00. They now have an “overweight” rating on the stock.
• 4/30/2024 – SBA Communications had its price target lowered by analysts at Citigroup Inc. from $290.00 to $260.00. They now have a “buy” rating on the stock.
• 4/30/2024 – SBA Communications had its price target lowered by analysts at TD Cowen from $266.00 to $253.00. They now have a “buy” rating on the stock.
• 4/17/2024 – SBA Communications had its price target lowered by analysts at Barclays PLC from $260.00 to $255.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – SBA Communications was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $260.00 price target on the stock.
• 3/5/2024 – SBA Communications had its price target lowered by analysts at Barclays PLC from $265.00 to $260.00. They now have an “overweight” rating on the stock.

SBA Communications Stock Up 1.6 %

SBAC opened at $189.12 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market cap of $20.45 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 1.14 and a beta of 0.59. The business has a 50 day moving average of $209.12 and a 200-day moving average of $222.52.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.21. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $3.13 EPS. As a group, analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is presently 76.86%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its stake in shares of SBA Communications by 72.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock valued at $518,000 after purchasing an additional 1,004 shares during the period. BNP Paribas Financial Markets increased its position in SBA Communications by 144.7% in the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock valued at $77,955,000 after buying an additional 212,739 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in SBA Communications by 5.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,603 shares of the technology company’s stock valued at $5,982,000 after buying an additional 1,309 shares in the last quarter. Principal Financial Group Inc. increased its position in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after buying an additional 1,524,302 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA increased its position in SBA Communications by 13.9% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 1,000 shares of the technology company’s stock valued at $217,000 after buying an additional 122 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.