SBA Communications' (SBAC) "Hold (C-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings reiterated a "hold (C-)" rating for SBA Communications (SBAC), indicating a cautious view on the stock amidst mixed analyst ratings.
• The company's shares recently traded at $191.96, with an average price target set at $248.40 based on various analysts’ estimates.
• SBA Communications reported strong quarterly earnings, exceeding analysts' expectations with $3.17 EPS and a revenue of $698.98 million, up 5.8% year-over-year.

SBA Communications (NASDAQ:SBAC - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on SBAC. Scotiabank assumed coverage on shares of SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price target for the company. Morgan Stanley upped their target price on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research report on Tuesday, August 5th. Barclays dropped their target price on SBA Communications from $257.00 to $226.00 and set an "overweight" rating on the stock in a research report on Monday, September 15th. Finally, KeyCorp cut their price objective on SBA Communications from $280.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $248.40.

SBA Communications Price Performance

Shares of SBAC traded up $3.84 during mid-day trading on Tuesday, reaching $191.96. The company's stock had a trading volume of 602,925 shares, compared to its average volume of 943,605. SBA Communications has a 12-month low of $185.45 and a 12-month high of $252.64. The stock has a market cap of $20.61 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.99 and a beta of 0.82. The company's 50 day moving average is $203.68 and its 200 day moving average is $220.44.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data 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. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The company had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. During the same quarter last year, the company earned $3.29 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. SBA Communications has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

Hedge Funds Weigh In On SBA Communications

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after acquiring an additional 45 shares during the period. GAMMA Investing LLC grew its position in SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock valued at $370,000 after acquiring an additional 469 shares during the period. Assenagon Asset Management S.A. grew its position in SBA Communications by 2.4% during the first quarter. Assenagon Asset Management S.A. now owns 4,615 shares of the technology company's stock valued at $1,015,000 after acquiring an additional 110 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in SBA Communications by 75.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company's stock valued at $3,215,000 after acquiring an additional 6,272 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in SBA Communications during the 1st quarter worth approximately $1,970,000. Institutional investors and hedge funds 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.

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