SBA Communications Co. (NASDAQ:SBAC) Receives $251.58 Consensus Target Price from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $251.58.

A number of research firms recently weighed in on SBAC. Wells Fargo & Company increased their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley increased their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. BMO Capital Markets reduced their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada upped their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th.

SBA Communications Price Performance

SBA Communications stock opened at $243.47 on Friday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a market capitalization of $26.17 billion, a PE ratio of 51.37, a P/E/G ratio of 0.75 and a beta of 0.67. The company’s 50-day moving average is $234.77 and its 200-day moving average is $212.71.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the firm earned $3.24 EPS. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, analysts expect that SBA Communications will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.61%. SBA Communications’s dividend payout ratio is presently 82.70%.

Insider Buying and Selling

In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock valued at $11,483,981 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. Ridgewood Investments LLC acquired a new stake in SBA Communications in the second quarter valued at about $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at approximately $36,000. Friedenthal Financial acquired a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $50,000. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications during the 2nd quarter valued at approximately $49,000. Finally, Versant Capital Management Inc increased its position in SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.