SBA Communications (NASDAQ:SBAC) Given New $220.00 Price Target at The Goldman Sachs Group

SBA Communications (NASDAQ:SBAC) had its target price reduced by The Goldman Sachs Group from $250.00 to $220.00 in a research report report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. Citigroup restated an “outperform” rating on shares of SBA Communications in a report on Tuesday, August 5th. Morgan Stanley boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a “strong-buy” rating in a report on Tuesday, August 5th. JMP Securities set a $280.00 price objective on shares of SBA Communications and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Finally, KeyCorp decreased their price objective on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.40.

SBA Communications Stock Performance

SBAC stock opened at $191.79 on Wednesday. The firm has a 50 day moving average price of $210.13 and a 200-day moving average price of $222.05. SBA Communications has a 52-week low of $186.81 and a 52-week high of $252.64. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.83 and a beta of 0.82.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same period last year, the business earned $3.29 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that SBA Communications will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, August 21st. SBA Communications’s payout ratio is 56.42%.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently modified their holdings of the business. Independence Bank of Kentucky bought a new stake in shares of SBA Communications during the 1st quarter valued at $28,000. CVA Family Office LLC grew its position in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares during the period. Stone House Investment Management LLC bought a new stake in shares of SBA Communications during the 1st quarter valued at $33,000. Allworth Financial LP grew its position in shares of SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares during the period. Finally, Geneos Wealth Management Inc. grew its position 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 acquiring an additional 84 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

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.