SBA Communications (NASDAQ:SBAC) PT Lowered to $227.00 at KeyCorp

SBA Communications (NASDAQ:SBAC) had its price objective reduced by equities research analysts at KeyCorp from $276.00 to $227.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 12.44% from the stock’s current price.

SBAC has been the topic of several other reports. BMO Capital Markets dropped their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. Finally, Barclays reduced their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $264.23.

SBA Communications Price Performance

SBAC stock opened at $201.89 on Tuesday. The company has a market capitalization of $21.83 billion, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. SBA Communications has a 12 month low of $185.23 and a 12 month high of $263.08. The firm’s fifty day simple moving average is $209.91 and its 200-day simple moving average is $222.86.

SBA Communications (NASDAQ:SBAC) last announced 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 company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. 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 earned $3.13 EPS. As a group, sell-side analysts forecast that SBA Communications will post 12.61 earnings per share for the current year.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds have recently added to or reduced their stakes in SBAC. Asset Management One Co. Ltd. lifted its stake in SBA Communications by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock worth $8,664,000 after purchasing an additional 188 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in SBA Communications during the 3rd quarter worth $212,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in SBA Communications by 12.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,618 shares of the technology company’s stock valued at $3,927,000 after acquiring an additional 2,100 shares during the last quarter. Xponance Inc. boosted its stake in SBA Communications by 4.0% in the third quarter. Xponance Inc. now owns 15,499 shares of the technology company’s stock valued at $3,102,000 after acquiring an additional 600 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of SBA Communications by 23.3% during the third quarter. Raymond James & Associates now owns 90,188 shares of the technology company’s stock worth $18,053,000 after purchasing an additional 17,048 shares in the last quarter. Institutional investors and hedge funds 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.