SBA Communications (NASDAQ:SBAC) Reaches New 1-Year Low – Here’s Why

SBA Communications Corporation (NASDAQ:SBAC) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $178.69 and last traded at $178.8430, with a volume of 159595 shares. The stock had previously closed at $181.14.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SBAC. UBS Group decreased their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. BMO Capital Markets lowered their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Barclays lowered their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Wells Fargo & Company reduced their price target on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Finally, Williams Trading set a $237.00 price target on shares of SBA Communications in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.18.

SBA Communications Stock Down 0.8%

The company has a market cap of $19.14 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The business has a 50-day simple moving average of $189.60 and a 200-day simple moving average of $199.44.

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

Institutional Investors Weigh In On SBA Communications

Large investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC boosted its holdings in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Quent Capital LLC bought a new position in shares of SBA Communications in the third quarter valued at about $27,000. CVA Family Office LLC boosted its holdings in SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Fulcrum Asset Management LLP acquired a new stake in SBA Communications during the third quarter worth about $32,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Company Profile

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.