SBA Communications (NASDAQ:SBAC) Price Target Cut to $254.00 by Analysts at Barclays

SBA Communications (NASDAQ:SBAC) had its target price trimmed by Barclays from $257.00 to $254.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on SBAC. The Goldman Sachs Group increased their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. TD Cowen increased their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $254.77.

SBA Communications Stock Up 1.1 %

Shares of SBAC opened at $194.96 on Monday. The stock has a 50 day moving average price of $213.15 and a 200 day moving average price of $221.36. The company has a market capitalization of $20.96 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced 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 business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $3.34 earnings per share. On average, equities analysts anticipate that SBA Communications will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed 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 2.01%. The ex-dividend date was Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The stock was 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 owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in SBA Communications in the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter valued at $35,000. Friedenthal Financial acquired a new stake in SBA Communications in the third quarter valued at $50,000. Farther Finance Advisors LLC grew its holdings in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Eastern Bank acquired a new stake in SBA Communications in the third quarter valued at $58,000. Hedge funds and other 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.