SBA Communications (NASDAQ:SBAC) Hits New 1-Year Low - Should You Sell?

Key Points

• SBA Communications' stock hit a new 52-week low at $186.51, marking a decline as the company faces fluctuating target prices from various analysts.
• The company has an average rating of "Moderate Buy" with a price target of $249.07, following adjustments by multiple research firms.
• SBA Communications reported earnings of $3.17 per share for the last quarter, exceeding expectations and showing a 5.8% increase in revenue year-over-year.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $186.51 and last traded at $187.47, with a volume of 55057 shares changing hands. The stock had previously closed at $188.53.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBAC. Wells Fargo & Company boosted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. UBS Group boosted their target price on shares of SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. KeyCorp lowered their target price 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. Royal Bank Of Canada decreased their price objective on shares of SBA Communications from $255.00 to $235.00 and set an "outperform" rating for the company in a research note on Thursday, October 2nd. Finally, Scotiabank began coverage on shares of SBA Communications in a research note on Thursday, July 17th. They set a "sector perform" rating and a $252.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average price target of $249.07.

SBA Communications Stock Down 0.4%

The firm has a market capitalization of $20.16 billion, a PE ratio of 23.85, a P/E/G ratio of 1.78 and a beta of 0.82. The firm's 50 day moving average price is $206.85 and its two-hundred day moving average price is $221.19.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.29 earnings per share. SBA Communications has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were given a dividend of $1.11 per share. The ex-dividend date was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. SBA Communications's dividend payout ratio is currently 56.42%.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently modified their holdings of SBAC. NorthCrest Asset Manangement LLC raised its position in shares of SBA Communications by 3.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company's stock worth $359,000 after acquiring an additional 44 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SBA Communications by 22.0% in the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company's stock worth $1,440,000 after purchasing an additional 46 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in SBA Communications by 5.6% in the first quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company's stock worth $194,000 after purchasing an additional 47 shares in the last quarter. Finally, MAI Capital Management increased its holdings in 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 purchasing an additional 50 shares in the last quarter. 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.

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