Wells Fargo & Company Raises SBA Communications (NASDAQ:SBAC) Price Target to $240.00

SBA Communications (NASDAQ:SBAC) had its target price lifted by Wells Fargo & Company from $220.00 to $240.00 in a research note published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a neutral rating in a research report on Thursday, September 26th. StockNews.com upgraded SBA Communications from a hold rating to a buy rating in a research report on Friday, September 20th. Royal Bank of Canada boosted their target price on SBA Communications from $235.00 to $245.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. Finally, Barclays decreased their price objective on SBA Communications from $240.00 to $236.00 and set an overweight rating for the company in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $247.42.

SBA Communications Stock Up 0.1 %

Shares of SBAC stock opened at $233.51 on Thursday. The stock has a 50-day moving average price of $231.29 and a 200 day moving average price of $211.44. The firm has a market cap of $25.09 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 0.71 and a beta of 0.67. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of SBA Communications by 10.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after acquiring an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in SBA Communications by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after buying an additional 53 shares in the last quarter. Ballentine Partners LLC grew its holdings in SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after buying an additional 55 shares in the last quarter. Checchi Capital Advisers LLC increased its position in SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after buying an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its position in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after buying an additional 58 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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.