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

SBA Communications (NASDAQ:SBAC) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, ValuEngine reports.

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

NASDAQ SBAC opened at $235.03 on Tuesday. The stock’s fifty day moving average is $236.92 and its two-hundred day moving average is $237.79. The firm has a market capitalization of $26.63 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.02 and a beta of 0.62. SBA Communications has a fifty-two week low of $155.19 and a fifty-two week high of $270.42.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of SBA Communications by 5.0% during the second quarter. BlackRock Inc. now owns 10,196,949 shares of the technology company’s stock valued at $2,292,683,000 after acquiring an additional 486,674 shares during the last quarter. State Street Corp boosted its position in shares of SBA Communications by 0.9% during the 3rd quarter. State Street Corp now owns 4,817,360 shares of the technology company’s stock worth $1,161,706,000 after purchasing an additional 41,042 shares during the period. Cohen & Steers Inc. boosted its position in shares of SBA Communications by 28.0% during the 2nd quarter. Cohen & Steers Inc. now owns 4,522,092 shares of the technology company’s stock worth $1,016,747,000 after purchasing an additional 990,368 shares during the period. Canada Pension Plan Investment Board increased its holdings in SBA Communications by 6.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,164,605 shares of the technology company’s stock valued at $486,690,000 after purchasing an additional 132,509 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in SBA Communications by 2.9% in the 2nd quarter. Northern Trust Corp now owns 1,274,909 shares of the technology company’s stock valued at $286,650,000 after purchasing an additional 35,929 shares during the last quarter. Hedge funds and other institutional investors 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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