SBA Communications (NASDAQ:SBAC) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBACFree Report) from a hold rating to a buy rating in a research note published on Thursday.

Several other research analysts have also issued reports on the stock. Bank of America upgraded shares of SBA Communications from a neutral rating to a buy rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. Royal Bank of Canada lowered their price objective on shares of SBA Communications from $250.00 to $235.00 and set an outperform rating for the company in a research note on Thursday, May 9th. KeyCorp lowered their price objective on shares of SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a research note on Tuesday, April 30th. Citigroup lowered their price objective on shares of SBA Communications from $290.00 to $260.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Finally, TD Cowen reduced their price target on shares of SBA Communications from $266.00 to $253.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $252.17.

View Our Latest Report on SBAC

SBA Communications Trading Up 2.0 %

SBA Communications stock opened at $194.63 on Thursday. The firm has a 50 day simple moving average of $195.06 and a 200 day simple moving average of $215.64. The firm has a market capitalization of $20.91 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 0.61 and a beta of 0.65. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last released 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. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period in the previous year, the business earned $3.13 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that SBA Communications will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of SBA Communications by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after acquiring an additional 88,339 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of SBA Communications by 54.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after buying an additional 1,524,302 shares in the last quarter. Brown Advisory Inc. lifted its stake in shares of SBA Communications by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock valued at $530,492,000 after buying an additional 153,299 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of SBA Communications by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock valued at $496,765,000 after buying an additional 166,554 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of SBA Communications by 115.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after buying an additional 727,163 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

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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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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