JPMorgan Chase & Co. Issues Pessimistic Forecast for SBA Communications (NASDAQ:SBAC) Stock Price

SBA Communications (NASDAQ:SBAC) had its price target lowered by stock analysts at JPMorgan Chase & Co. from $245.00 to $240.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.76% from the stock’s previous close.

A number of other brokerages have also recently issued reports on SBAC. Royal Bank Of Canada dropped their price objective on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. KeyCorp dropped 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. Cowen reissued a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. The Goldman Sachs Group lowered their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.18.

SBA Communications Stock Performance

NASDAQ SBAC traded up $3.76 on Monday, reaching $184.96. The company had a trading volume of 597,682 shares, compared to its average volume of 801,212. The company’s fifty day moving average is $192.49 and its 200-day moving average is $204.61. The firm has a market capitalization of $19.71 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. SBA Communications has a 1-year low of $179.89 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.32 EPS. On average, research analysts forecast that SBA Communications will post 12.57 earnings per share for the current year.

Institutional Investors Weigh In On SBA Communications

Large investors have recently modified their holdings of the business. NorthCrest Asset Manangement LLC lifted its stake in shares of SBA Communications by 3.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after buying an additional 44 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in SBA Communications by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 46 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 20.0% in the second quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares during the period. MAI Capital Management grew its stake in shares of SBA Communications by 7.9% in the second quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after acquiring an additional 50 shares in the last quarter. Finally, Fortune Financial Advisors LLC raised its position in SBA Communications by 2.4% in the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock valued at $432,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.