SBA Communications (NASDAQ:SBAC) Downgraded to Sell at ValuEngine

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ValuEngine downgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a sell rating in a research note released on Tuesday morning, ValuEngine reports.

Several other analysts have also recently weighed in on SBAC. Morgan Stanley cut shares of SBA Communications from an overweight rating to an equal rating and raised their price objective for the company from $222.00 to $249.00 in a research report on Thursday, September 19th. BidaskClub upgraded shares of SBA Communications from a sell rating to a hold rating in a research report on Saturday, November 16th. KeyCorp increased their target price on SBA Communications from $259.00 to $292.00 and gave the company an overweight rating in a research note on Monday, August 19th. Zacks Investment Research upgraded SBA Communications from a sell rating to a hold rating and set a $253.00 price target on the stock in a research report on Saturday, November 2nd. Finally, TheStreet lowered SBA Communications from a b- rating to a c rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $248.73.

Shares of NASDAQ SBAC opened at $234.97 on Tuesday. The business has a 50-day moving average of $237.00 and a 200-day moving average of $237.69. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 3.02 and a beta of 0.62. SBA Communications has a 12 month low of $155.19 and a 12 month high of $270.42.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.78). SBA Communications had a net margin of 6.89% and a negative return on equity of 4.16%. The company had revenue of $486.60 million during the quarter, compared to analysts’ expectations of $497.48 million. During the same period in the prior year, the business earned $1.92 earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications will post 7.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 21st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.63%. The ex-dividend date is Wednesday, November 20th. SBA Communications’s dividend payout ratio is presently 19.47%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. NEXT Financial Group Inc grew its position in SBA Communications by 22.7% during the 2nd quarter. NEXT Financial Group Inc now owns 276 shares of the technology company’s stock worth $62,000 after acquiring an additional 51 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of SBA Communications by 8.2% in the second quarter. Commonwealth Equity Services LLC now owns 2,750 shares of the technology company’s stock worth $618,000 after buying an additional 209 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of SBA Communications by 55.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,293 shares of the technology company’s stock worth $516,000 after buying an additional 817 shares during the period. Wetherby Asset Management Inc. raised its holdings in SBA Communications by 5.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 1,778 shares of the technology company’s stock valued at $400,000 after buying an additional 88 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in SBA Communications during the 2nd quarter valued at $96,000. Institutional investors and hedge funds own 93.62% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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