SBA Communications (NASDAQ:SBAC) Price Target Lowered to $232.00 at Royal Bank Of Canada

SBA Communications (NASDAQ:SBAC) had its target price dropped by research analysts at Royal Bank Of Canada from $235.00 to $232.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 17.73% from the stock’s previous close.

SBAC has been the topic of several other reports. Scotiabank began coverage on SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 target price on the stock. KeyCorp dropped their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Wells Fargo & Company reduced their target price on shares of SBA Communications from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, October 20th. BMO Capital Markets decreased their price objective on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Finally, UBS Group dropped their price objective on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $238.50.

SBA Communications Stock Down 0.2%

Shares of NASDAQ SBAC traded down $0.35 during trading hours on Monday, hitting $197.06. 127,356 shares of the stock were exchanged, compared to its average volume of 961,527. SBA Communications has a 12 month low of $185.45 and a 12 month high of $245.16. The firm has a fifty day moving average price of $195.08 and a 200-day moving average price of $217.03. The company has a market cap of $21.16 billion, a PE ratio of 25.02, a PEG ratio of 2.01 and a beta of 0.80.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating 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 net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $3.32 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SBA Communications will post 12.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds have recently made changes to their positions in SBAC. JPMorgan Chase & Co. grew its position in SBA Communications by 40.3% in the 1st quarter. JPMorgan Chase & Co. now owns 5,973,657 shares of the technology company’s stock valued at $1,314,265,000 after acquiring an additional 1,715,541 shares in the last quarter. Norges Bank purchased a new position in SBA Communications in the 2nd quarter valued at approximately $351,084,000. Dodge & Cox boosted its position in SBA Communications by 15.5% in the 1st quarter. Dodge & Cox now owns 8,485,264 shares of the technology company’s stock valued at $1,866,843,000 after buying an additional 1,139,009 shares during the period. Nuveen LLC purchased a new stake in shares of SBA Communications during the first quarter worth $152,973,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in SBA Communications by 799.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company’s stock valued at $134,166,000 after purchasing an additional 507,815 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.