SBA Communications (NASDAQ:SBAC) Given "Market Perform" Rating at BMO Capital Markets

SBA Communications (NASDAQ:SBAC - Get Free Report)'s stock had its "market perform" rating reiterated by BMO Capital Markets in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $230.00 target price on the technology company's stock, down from their prior target price of $260.00. BMO Capital Markets' price objective would suggest a potential upside of 14.39% from the company's previous close.

SBAC has been the topic of several other reports. Morgan Stanley boosted their price objective on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. KeyCorp lifted their target price on SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Finally, TD Cowen upped their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

SBA Communications Trading Down 3.8 %

SBA Communications stock traded down $7.93 during midday trading on Wednesday, hitting $201.06. The stock had a trading volume of 1,356,856 shares, compared to its average volume of 913,460. SBA Communications has a 52-week low of $183.64 and a 52-week high of $256.68. The company has a market capitalization of $21.62 billion, a PE ratio of 31.71, a P/E/G ratio of 0.72 and a beta of 0.67. The firm's fifty day moving average is $226.97 and its two-hundred day moving average is $220.39.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. During the same period last year, the company earned $3.34 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that SBA Communications will post 12.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec increased its position in SBA Communications by 14,529.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock valued at $60,495,000 after acquiring an additional 249,610 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock worth $100,351,000 after purchasing an additional 241,916 shares during the period. Public Sector Pension Investment Board grew its holdings in SBA Communications by 17.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company's stock valued at $2,927,000 after purchasing an additional 2,186 shares during the last quarter. Farther Finance Advisors LLC raised its position in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in SBA Communications by 384.3% in the third quarter. Daiwa Securities Group Inc. now owns 106,531 shares of the technology company's stock worth $25,642,000 after purchasing an additional 84,536 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Company Profile

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.