BidaskClub upgraded shares of SBA Communications (NASDAQ:SBAC) from a sell rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other brokerages also recently commented on SBAC. ValuEngine downgraded shares of SBA Communications from a buy rating to a hold rating in a research note on Friday, September 27th. Zacks Investment Research raised shares of SBA Communications from a sell rating to a hold rating and set a $253.00 target price on the stock in a research note on Saturday, November 2nd. TheStreet downgraded shares of SBA Communications from a b- rating to a c rating in a research note on Monday, October 28th. SunTrust Banks lifted their target price on shares of SBA Communications to $255.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. Finally, KeyCorp lifted their target price on shares of SBA Communications from $259.00 to $292.00 and gave the stock an overweight rating in a research note on Monday, August 19th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. SBA Communications presently has an average rating of Hold and a consensus price target of $248.73.

Shares of NASDAQ SBAC traded up $3.83 during mid-day trading on Friday, hitting $239.99. The stock had a trading volume of 486,800 shares, compared to its average volume of 646,820. SBA Communications has a 1 year low of $155.19 and a 1 year high of $270.42. The business has a 50 day moving average price of $237.79 and a two-hundred day moving average price of $235.56. The firm has a market cap of $26.72 billion, a P/E ratio of 31.58, a price-to-earnings-growth ratio of 3.04 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $1.97 by ($1.78). SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The firm had revenue of $486.60 million during the quarter, compared to analysts’ expectations of $497.48 million. During the same period in the previous year, the firm earned $1.92 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that SBA Communications will post 7.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 21st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, November 20th. SBA Communications’s dividend payout ratio (DPR) is currently 19.47%.

In related news, CFO Brendan Thomas Cavanagh sold 54,411 shares of SBA Communications stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $268.07, for a total value of $14,585,956.77. Following the sale, the chief financial officer now owns 98,751 shares in the company, valued at $26,472,180.57. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Usca Ria LLC bought a new stake in SBA Communications in the third quarter valued at $25,000. Advisory Services Network LLC boosted its holdings in SBA Communications by 65.4% in the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in SBA Communications in the second quarter valued at $29,000. Certified Advisory Corp bought a new stake in shares of SBA Communications during the 2nd quarter valued at $31,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of SBA Communications during the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 92.52% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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