Weekly Investment Analysts’ Ratings Updates for SBA Communications (SBAC)

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

  • 7/9/2024 – SBA Communications was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 7/1/2024 – SBA Communications is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $212.00 price target on the stock.
  • 6/28/2024 – SBA Communications was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 6/20/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 6/11/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/31/2024 – SBA Communications was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/30/2024 – SBA Communications had its price target lowered by analysts at Barclays PLC from $241.00 to $240.00. They now have an “overweight” rating on the stock.
  • 5/23/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/15/2024 – SBA Communications was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

SBA Communications Price Performance

SBA Communications stock opened at $195.53 on Wednesday. The business has a 50 day simple moving average of $194.27 and a 200 day simple moving average of $210.82. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The company has a market capitalization of $21.01 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share 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 company had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period last year, the company posted $3.13 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently modified their holdings of SBAC. Nordea Investment Management AB boosted its holdings in shares of SBA Communications by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after buying an additional 16,244 shares during the period. Legacy Trust bought a new position in shares of SBA Communications during the fourth quarter worth about $3,256,000. Franklin Resources Inc. raised its position in SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after buying an additional 19,462 shares during the last quarter. Nomura Holdings Inc. bought a new stake in SBA Communications in the 4th quarter valued at approximately $7,422,000. Finally, Wellington Management Group LLP boosted its position in SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock worth $57,113,000 after acquiring an additional 192,791 shares during the last quarter. 97.35% of the stock is currently 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.

Featured Stories

Receive News & Ratings for SBA Communications Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications Co and related companies with MarketBeat.com's FREE daily email newsletter.