In a letter distributed to investors on Friday, The Fly reports that Trust Financial decreased their price objective for SBA Communications (NASDAQ: SBAC) from $400 to $350.00. The letter was sent to the investors. The price target established by Trust Financial assumes an increase from the stock’s current price, which is 14.21% higher than the current price.
Several other research professionals also discussed SBAC as a topic of conversation at one point or another. The price objective that Deutsche Bank Aktiengesellschaft has placed on SBA Communications shares has increased from $323.00 to $325.00, as stated in a research report published on Friday, December 2nd. In a research note published on Monday, November 7th, Royal Bank of Canada lowered their target price on shares of SBA Communications from $370.00 to $330.00 and rated the company as “outperforming.” Goldman Sachs Group assigned a “buy” rating to the company in a research note published on October 12th. However, the firm lowered its target price on SBA Communications shares from $384.00 to $340.00 during the same period. Despite this, they did not change their recommendation for the company to “buy.” While keeping their “outperform” rating on the company, Cowen lowered their price objective on shares of SBA Communications from $389.00 to $341.00 following the publication of a research report on November 1st.
Last but not least, on November 22nd, the recommendation that StockNews.com had previously included in its research report regarding SBA Communications was changed from “buy” to “hold.” The stock has been assigned a total of thirteen buy ratings, with one strong buy recommendation, twelve buy ratings, and three hold ratings, from the community of market analysts. The stock is currently rated as having a consensus recommendation of “Moderate Buy,” Its average price target is $341.27, as indicated by the data presented by Bloomberg.com.
SBAC shares were first offered for trading on Friday for $306.44 per share. The company’s simple moving average over the past 50 days is currently sitting at $289.16, and its simple moving average over the past 200 days is currently sitting at $301.62. Over the past year, the price of one share of SBA Communications has ranged from as low as $236.20 to as high as $379.99. The company has a price-to-earnings ratio of 0.49, resulting in a market capitalization of $33.09 billion. In addition, the company has a beta coefficient of 0.49.
On October 31st, a Monday, the most recent quarterly earnings report for SBA Communications (NASDAQ: SBAC) was made public for the first time. The technology company’s earnings per share for the previous quarter came in at $0.91. This information was made public on October 31st, which was a Monday. The earnings per share for the quarter for the technology company came in at $0.91, which was $0.05 less than the consensus prediction of $0.95. In comparison, market experts anticipated that the company would bring in revenue for the quarter of $651.42 million, but the company made $675.60 million. The return on equity for SBA Communications was 7.57 percent, and the net margin for the company was 16.01 percent. The company’s revenue for the period in question rose by 14.6% when measured against the same period in the prior year. The company reported a profit of $2.71 per share for the same period in the previous year’s financial statements. As predicted by market analysts, SBA Communications will bring in 11.35 cents per share in revenue over the current fiscal year.
Recent changes have been made to reflect the most recent holdings of the stock by hedge funds and other types of institutional investors. Crewe Advisors LLC increased its overall holdings in the company by making an additional investment of approximately $26,000 into SBA Communications during the year’s second quarter. Carolinas Wealth Consulting LLC acquired 248.0% more of SBA Communications’ shares during the year’s first three months. The value of the 87 shares that Carolinas Wealth Consulting LLC has acquired thus far comes to $30,000; during the most recent quarter, the company made an additional purchase of 62 shares of the technology company, bringing the total number of shares that it has acquired to a total of 87. EverSource Wealth Advisors LLC brought the total amount of SBA Communications stock that it owned up to 71.7 percent during the third quarter. EverSource Wealth Advisors LLC now holds 91 technology company stock shares with a market value of $26,000. This is because the company purchased 38 additional shares during the preceding quarter. The amount of SBA Communications stock that AdvisorNet Financial Inc. owned as of the end of the second quarter increased by 52.5%. After making an additional purchase of 32 shares during the most recent trading quarter, AdvisorNet Financial Inc. now has 93 shares of the technology company’s stock, each of which has a value of $30,000 and is owned by the company. And last but not least, during the second quarter, Private Trust Co. NA increased its holdings in SBA Communications by purchasing a new stake in the company valued at $30,000. The company’s equity is owned by institutions at 93.54%, making up 93.54% of the total.
The SBA Communications Corporation is a well-known owner and operator of wireless communications infrastructure not only in South Africa but also on the continents of North America, Central America, and South America. Through its Building Better Wireless initiative, SBA generates revenue from two primary activities: site leasing and site development services. These activities bring in revenue for the organization.