SBA Communications (NASDAQ:SBAC) Given New $334.00 Price Target at Raymond James

SBA Communications (NASDAQ:SBACGet Rating) had its price objective increased by Raymond James from $308.00 to $334.00 in a research report sent to investors on Wednesday, The Fly reports.

Other analysts have also recently issued research reports about the company. Credit Suisse Group lowered their price target on SBA Communications from $408.00 to $346.00 and set an outperform rating on the stock in a report on Tuesday, November 1st. Morgan Stanley lowered their price target on SBA Communications from $366.00 to $309.00 and set an overweight rating on the stock in a report on Tuesday, October 18th. Wells Fargo & Company lowered their price target on SBA Communications from $355.00 to $325.00 and set an overweight rating on the stock in a report on Tuesday, October 18th. UBS Group decreased their price objective on SBA Communications to $365.00 in a report on Friday, November 4th. Finally, KeyCorp decreased their price objective on SBA Communications from $389.00 to $335.00 and set an overweight rating on the stock in a report on Monday, October 3rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of Moderate Buy and an average target price of $345.47.

SBA Communications Stock Up 1.2 %

Shares of NASDAQ SBAC opened at $297.61 on Wednesday. SBA Communications has a 52 week low of $236.20 and a 52 week high of $391.15. The business has a 50-day simple moving average of $277.94 and a two-hundred day simple moving average of $310.29. The company has a market cap of $32.13 billion, a P/E ratio of 80.22 and a beta of 0.46.

SBA Communications (NASDAQ:SBACGet Rating) last issued its earnings results on Monday, October 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. The company had revenue of $675.60 million during the quarter, compared to the consensus estimate of $651.42 million. During the same quarter in the prior year, the business earned $2.71 EPS. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications will post 11.34 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a yield of 0.95%. SBA Communications’s dividend payout ratio (DPR) is currently 76.55%.

Hedge Funds Weigh In On SBA Communications

Large investors have recently bought and sold shares of the stock. Crewe Advisors LLC bought a new stake in shares of SBA Communications in the 2nd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of SBA Communications by 71.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock worth $26,000 after buying an additional 38 shares during the last quarter. Whittier Trust Co. grew its position in shares of SBA Communications by 131.8% in the 3rd quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock worth $29,000 after buying an additional 58 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of SBA Communications by 52.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after buying an additional 32 shares during the last quarter. Finally, Private Trust Co. NA bought a new stake in shares of SBA Communications in the 2nd quarter worth approximately $30,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Company Profile

(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 Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

Featured Articles

The Fly logo

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.