SBA Communications Co. (NASDAQ:SBAC) Given Average Rating of “Moderate Buy” by Brokerages

SBA Communications Co. (NASDAQ:SBAC) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment 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. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $257.23.

Several analysts have issued reports on SBAC shares. Raymond James raised their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays boosted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, TD Cowen lifted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction 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 of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in SBA Communications during the 2nd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications during the 3rd quarter worth about $35,000. Family Firm Inc. purchased a new position in shares of SBA Communications during the 2nd quarter valued at about $36,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ:SBAC opened at $219.60 on Wednesday. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 0.76 and a beta of 0.68. The business has a 50 day simple moving average of $237.52 and a 200-day simple moving average of $215.82. SBA Communications has a 1 year low of $183.64 and a 1 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 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 firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period in the previous year, the firm earned $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, analysts expect that SBA Communications will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

SBA Communications Company Profile

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.