SBA Communications Co. (NASDAQ:SBAC) Receives $257.23 Average PT from Brokerages

SBA Communications Co. (NASDAQ:SBAC) has earned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $257.23.

A number of research analysts recently commented on SBAC shares. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Institutional Trading of SBA Communications

Several institutional investors have recently modified their holdings of the business. Cetera Investment Advisers grew its position in shares of SBA Communications by 228.1% in the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after buying an additional 7,226 shares during the last quarter. Cetera Advisors LLC boosted its holdings in SBA Communications by 41.8% in the first quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock valued at $362,000 after acquiring an additional 492 shares during the last quarter. CWM LLC increased its position in SBA Communications by 56.4% during the 2nd quarter. CWM LLC now owns 2,952 shares of the technology company’s stock valued at $579,000 after purchasing an additional 1,065 shares during the period. Czech National Bank raised its holdings in SBA Communications by 7.9% during the 2nd quarter. Czech National Bank now owns 20,475 shares of the technology company’s stock worth $4,019,000 after purchasing an additional 1,493 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of SBA Communications by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,126 shares of the technology company’s stock worth $810,000 after purchasing an additional 404 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.8 %

Shares of SBA Communications stock opened at $214.28 on Friday. The company has a 50-day simple moving average of $228.76 and a two-hundred day simple moving average of $220.07. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 EPS. On average, sell-side analysts anticipate that SBA Communications will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

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.