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

Posted by Tech Dows on Nov 14th, 2024

A number of firms have modified their ratings and price targets on shares of SBA Communications (NASDAQ: SBAC) recently:

11/7/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
10/30/2024 – SBA Communications was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
10/29/2024 – SBA Communications had its price target raised by analysts at Raymond James from $285.00 to $300.00. They now have a “strong-buy” rating on the stock.
10/29/2024 – SBA Communications had its price target raised by analysts at BMO Capital Markets from $255.00 to $260.00. They now have an “outperform” rating on the stock.
10/29/2024 – SBA Communications had its price target raised by analysts at TD Cowen from $251.00 to $261.00. They now have a “buy” rating on the stock.
10/14/2024 – SBA Communications had its price target raised by analysts at KeyCorp from $230.00 to $280.00. They now have an “overweight” rating on the stock.
10/10/2024 – SBA Communications had its price target raised by analysts at Barclays PLC from $236.00 to $256.00. They now have an “overweight” rating on the stock.
10/10/2024 – SBA Communications had its price target raised by analysts at Wells Fargo & Company from $220.00 to $240.00. They now have an “equal weight” rating on the stock.
9/26/2024 – SBA Communications had its price target raised by analysts at The Goldman Sachs Group, Inc. from $212.00 to $240.00. They now have a “neutral” rating on the stock.
9/23/2024 – SBA Communications had its price target raised by analysts at JPMorgan Chase & Co. from $228.00 to $250.00. They now have a “neutral” rating on the stock.
9/20/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
9/18/2024 – SBA Communications had its price target raised by analysts at Morgan Stanley from $232.00 to $252.00. They now have an “overweight” rating on the stock.

SBA Communications Stock Down 0.5 %

SBAC opened at $218.51 on Thursday. The company has a market cap of $23.49 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68. The firm’s 50-day moving average price is $237.29 and its 200-day moving average price is $215.99. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC – Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the company posted $3.34 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.79%. SBA Communications’s payout ratio is presently 61.83%.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its stake in shares of SBA Communications by 72.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock worth $518,000 after purchasing an additional 1,004 shares during the period. Empowered Funds LLC increased its holdings in SBA Communications by 28.2% in the first quarter. Empowered Funds LLC now owns 1,355 shares of the technology company’s stock valued at $294,000 after buying an additional 298 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of SBA Communications by 20.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 136,400 shares of the technology company’s stock worth $29,558,000 after acquiring an additional 23,543 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SBA Communications by 15.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125,631 shares of the technology company’s stock worth $27,224,000 after acquiring an additional 16,831 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in shares of SBA Communications by 1.9% during the 1st quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after acquiring an additional 3,087 shares during the period. 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.