SBA Communications Co. (NASDAQ:SBAC) Receives $268.00 Consensus Price Target from Analysts

SBA Communications Co. (NASDAQ:SBAC) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $258.23.

A number of research firms recently commented on SBAC. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, March 7th. Citigroup reduced their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays cut their price target on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, BMO Capital Markets cut their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th.

SBA Communications Trading Down 0.4 %

NASDAQ SBAC opened at $193.09 on Friday. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a 50 day moving average of $208.78 and a 200-day moving average of $222.32. The company has a market cap of $20.87 billion, a PE ratio of 37.86, a PEG ratio of 1.16 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.13 earnings per share. As a group, sell-side analysts predict that SBA Communications will post 12.61 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SBAC. Emerald Advisers LLC bought a new stake in SBA Communications during the third quarter worth about $31,000. CVA Family Office LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at approximately $37,000. Glassman Wealth Services lifted its holdings in shares of SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares during the period. Pinnacle Bancorp Inc. boosted its position in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 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.