SBA Communications (NASDAQ:SBAC) Sets New 52-Week Low – Should You Sell?

SBA Communications Corporation (NASDAQ:SBAC) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $178.69 and last traded at $178.8430, with a volume of 159595 shares trading hands. The stock had previously closed at $181.14.

Analysts Set New Price Targets

SBAC has been the topic of several research analyst reports. Citigroup lowered their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Barclays reduced their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. Williams Trading set a $237.00 price objective on shares of SBA Communications in a report on Tuesday, November 4th. Morgan Stanley reduced their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, October 16th. Finally, TD Cowen reiterated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.18.

SBA Communications Stock Down 2.4%

The company’s 50 day simple moving average is $188.84 and its 200-day simple moving average is $198.83. The firm has a market cap of $19.23 billion, a P/E ratio of 23.53, a P/E/G ratio of 1.75 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. During the same period in the previous year, the firm earned $3.32 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

Hedge Funds Weigh In On SBA Communications

A number of large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in shares of SBA Communications by 0.8% during the 2nd 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 during the period. MAI Capital Management grew its stake in SBA Communications by 7.9% during the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after buying an additional 50 shares during the last quarter. Fortune Financial Advisors LLC grew its stake in SBA Communications by 2.4% during the 3rd quarter. Fortune Financial Advisors LLC now owns 2,237 shares of the technology company’s stock worth $432,000 after buying an additional 53 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in SBA Communications by 3.6% in the third quarter. Prestige Wealth Management Group LLC now owns 1,715 shares of the technology company’s stock worth $332,000 after buying an additional 60 shares during the period. Finally, Choreo LLC lifted its stake in SBA Communications by 1.1% in the third quarter. Choreo LLC now owns 6,047 shares of the technology company’s stock valued at $1,169,000 after buying an additional 63 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.