SBA Communications (NASDAQ:SBAC) Announces Earnings Results

SBA Communications (NASDAQ:SBAC) issued its earnings results on Monday. The technology company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.21 by $0.09, Zacks reports. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. During the same quarter in the previous year, the business posted $3.32 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. SBA Communications updated its FY 2025 guidance to EPS.

SBA Communications Stock Performance

SBAC stock traded up $2.04 during mid-day trading on Monday, hitting $193.52. 1,835,919 shares of the company were exchanged, compared to its average volume of 963,761. SBA Communications has a 1-year low of $185.45 and a 1-year high of $245.16. The firm’s 50 day simple moving average is $196.71 and its 200 day simple moving average is $218.17. The firm has a market cap of $20.78 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.01 and a beta of 0.82.

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its position in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of SBA Communications in the 2nd quarter valued at about $74,000. Jones Financial Companies Lllp raised its stake in shares of SBA Communications by 272.8% in the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after purchasing an additional 551 shares during the period. Snowden Capital Advisors LLC bought a new stake in shares of SBA Communications in the second quarter valued at about $288,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of SBA Communications during the second quarter worth about $414,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBAC. UBS Group dropped their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Royal Bank Of Canada decreased their target price on SBA Communications from $255.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Morgan Stanley cut their price target on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. KeyCorp decreased their price objective 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. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $241.07.

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.