TD Cowen Boosts SBA Communications (NASDAQ:SBAC) Price Target to $261.00

SBA Communications (NASDAQ:SBAC) had its target price raised by TD Cowen from $251.00 to $261.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lifted 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. Raymond James lifted their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday. KeyCorp raised their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, BMO Capital Markets raised their price objective on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $225.59 on Tuesday. The business’s fifty day moving average price is $237.96 and its two-hundred day moving average price is $214.45. The stock has a market cap of $24.24 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67. SBA Communications has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the business earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities research analysts predict that SBA Communications will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction dated 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 directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after acquiring an additional 16,962 shares during the period. FORA Capital LLC acquired a new position in SBA Communications in the first quarter valued at approximately $4,872,000. Virtu Financial LLC acquired a new position in SBA Communications in the first quarter valued at approximately $1,764,000. Easterly Investment Partners LLC acquired a new position in SBA Communications in the first quarter valued at approximately $1,412,000. Finally, Centersquare Investment Management LLC boosted its stake in SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after acquiring an additional 3,087 shares during the period. 97.35% of the stock is owned by institutional investors.

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.