SBA Communications (NASDAQ:SBAC) Given New $280.00 Price Target at JMP Securities

SBA Communications (NASDAQ:SBAC) had its price target increased by JMP Securities from $270.00 to $280.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. BMO Capital Markets upped their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Tuesday, April 29th. Scotiabank started coverage on SBA Communications in a research report on Thursday, July 17th. They set a “sector perform” rating and a $252.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. Citigroup boosted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Barclays raised their price target on shares of SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.44.

SBA Communications Trading Down 4.9%

Shares of SBAC stock opened at $219.16 on Tuesday. The company’s fifty day simple moving average is $231.03 and its 200-day simple moving average is $223.08. SBA Communications has a 52 week low of $192.55 and a 52 week high of $252.64. The company has a market cap of $23.55 billion, a PE ratio of 27.85, a P/E/G ratio of 1.91 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.71%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 earnings per share. Equities research analysts expect that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. SBA Communications’s payout ratio is presently 60.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independence Bank of Kentucky bought a new stake in shares of SBA Communications during the first quarter worth $28,000. CVA Family Office LLC boosted its holdings in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares in the last quarter. Stone House Investment Management LLC bought a new stake in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP increased its holdings in SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after purchasing an additional 62 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.