SBA Communications Co. (NASDAQ:SBAC) Receives $385.38 Consensus Target Price from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) have been given an average rating of “Buy” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $385.38.

Several analysts recently commented on SBAC shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of SBA Communications from $370.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, March 2nd. Barclays dropped their price objective on shares of SBA Communications from $376.00 to $373.00 in a research note on Friday, March 18th. Morgan Stanley lifted their price objective on shares of SBA Communications from $384.00 to $412.00 and gave the stock an “overweight” rating in a research note on Thursday. Credit Suisse Group dropped their price objective on shares of SBA Communications from $405.00 to $360.00 and set an “outperform” rating for the company in a research note on Tuesday, March 1st. Finally, Bank of America lifted their price objective on shares of SBA Communications from $365.00 to $425.00 in a research note on Monday, January 3rd.

In other SBA Communications news, EVP Kurt L. Bagwell sold 3,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $330.00, for a total transaction of $1,239,810.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $328.88, for a total transaction of $164,440.00. The disclosure for this sale can be found here. Insiders sold a total of 4,260 shares of company stock valued at $1,404,992 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Torray LLC boosted its stake in shares of SBA Communications by 0.4% in the 3rd quarter. Torray LLC now owns 6,962 shares of the technology company’s stock valued at $2,301,000 after purchasing an additional 30 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of SBA Communications by 1.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock valued at $1,116,000 after acquiring an additional 34 shares during the period. Hillsdale Investment Management Inc. lifted its position in shares of SBA Communications by 2.2% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 1,840 shares of the technology company’s stock valued at $608,000 after acquiring an additional 40 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in SBA Communications by 1.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,320 shares of the technology company’s stock worth $767,000 after buying an additional 40 shares during the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in SBA Communications by 11.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 436 shares of the technology company’s stock worth $170,000 after buying an additional 46 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

Shares of SBAC stock opened at $372.72 on Friday. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 174.99 and a beta of 0.44. The company has a 50-day simple moving average of $324.78 and a 200 day simple moving average of $338.86. SBA Communications has a 52 week low of $274.60 and a 52 week high of $391.15.

SBA Communications (NASDAQ:SBAC – Get Rating) last announced its earnings results on Monday, February 28th. The technology company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.25). The company had revenue of $595.30 million for the quarter, compared to the consensus estimate of $589.77 million. SBA Communications had a negative return on equity of 4.72% and a net margin of 10.29%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 EPS. As a group, equities research analysts anticipate that SBA Communications will post 10.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Thursday, March 10th were given a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, March 9th. This is a boost from SBA Communications’s previous quarterly dividend of $0.58. This represents a $2.84 annualized dividend and a dividend yield of 0.76%. SBA Communications’s payout ratio is presently 133.33%.

About SBA Communications (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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