SBA Communications Co. (NASDAQ:SBAC) Receives $254.92 Consensus Target Price from Analysts

SBA Communications Co. (NASDAQ:SBAC) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $254.92.

Several analysts recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. The Goldman Sachs Group increased their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. KeyCorp lifted their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in shares of SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after buying an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in SBA Communications during the 2nd quarter worth approximately $134,738,000. JPMorgan Chase & Co. raised its position in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Finally, Long Pond Capital LP acquired a new stake in shares of SBA Communications in the second quarter valued at $83,687,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $201.80 on Thursday. The firm has a market cap of $21.70 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The firm’s 50-day simple moving average is $217.26 and its 200-day simple moving average is $220.83.

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

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

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.