SBA Communications (SBAC) – Research Analysts’ Recent Ratings Updates

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

  • 1/24/2023 – SBA Communications was upgraded by analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating.
  • 1/23/2023 – SBA Communications had its price target lowered by analysts at KeyCorp from $335.00 to $319.00. They now have an “overweight” rating on the stock.
  • 1/13/2023 – SBA Communications had its price target lowered by analysts at Truist Financial Co. from $400.00 to $350.00. They now have a “buy” rating on the stock.
  • 1/12/2023 – SBA Communications had its price target lowered by analysts at Barclays PLC from $341.00 to $336.00. They now have an “overweight” rating on the stock.
  • 12/14/2022 – SBA Communications had its price target raised by analysts at Wells Fargo & Company from $300.00 to $340.00.
  • 12/2/2022 – SBA Communications had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $323.00 to $325.00.

SBA Communications Trading Up 1.5 %

NASDAQ SBAC traded up $4.24 on Wednesday, hitting $291.65. 659,811 shares of the stock traded hands, compared to its average volume of 699,269. The stock has a 50-day moving average of $290.98 and a 200 day moving average of $299.77. SBA Communications Co. has a twelve month low of $236.20 and a twelve month high of $379.99. The company has a market capitalization of $31.49 billion, a P/E ratio of 78.61 and a beta of 0.49.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $675.60 million for the quarter, compared to analyst estimates of $651.42 million. SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.71 EPS. As a group, equities research analysts expect that SBA Communications Co. will post 11.34 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, November 16th. SBA Communications’s dividend payout ratio (DPR) is presently 76.55%.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in SBA Communications by 1.9% during the 3rd quarter. BlackRock Inc. now owns 9,673,900 shares of the technology company’s stock valued at $2,753,678,000 after purchasing an additional 177,089 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of SBA Communications by 13.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 3,396,193 shares of the technology company’s stock valued at $966,729,000 after acquiring an additional 407,347 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of SBA Communications by 1.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,926,034 shares of the technology company’s stock valued at $936,478,000 after acquiring an additional 40,439 shares during the last quarter. FMR LLC lifted its position in shares of SBA Communications by 37.5% during the 2nd quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock valued at $920,165,000 after acquiring an additional 783,686 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of SBA Communications by 6.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,700,110 shares of the technology company’s stock valued at $483,937,000 after acquiring an additional 102,118 shares during the last quarter. 93.54% of the stock is owned by institutional investors.

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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