BMO Capital Markets Reaffirms “Market Perform” Rating for SBA Communications (NASDAQ:SBAC)

SBA Communications (NASDAQ:SBAC)‘s stock had its “market perform” rating reiterated by analysts at BMO Capital Markets in a report issued on Wednesday, MarketBeat reports. They currently have a $230.00 price objective on the technology company’s stock, down from their prior price objective of $260.00. BMO Capital Markets’ price objective points to a potential upside of 16.02% from the company’s previous close.

SBAC has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Raymond James raised their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $254.92.

SBA Communications Trading Down 1.4 %

Shares of SBA Communications stock opened at $198.24 on Wednesday. SBA Communications has a 52 week low of $183.64 and a 52 week high of $256.68. The stock has a market cap of $21.32 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The company’s 50-day moving average price is $226.27 and its two-hundred day moving average price is $220.24.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. On average, equities analysts predict that SBA Communications will post 12.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of SBAC. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the third quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in SBA Communications in the 2nd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $35,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $49,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

About SBA Communications

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.