SBA Communications (NASDAQ:SBAC) Downgraded by StockNews.com

StockNews.com cut shares of SBA Communications (NASDAQ:SBACGet Rating) from a buy rating to a hold rating in a report issued on Tuesday morning.

Several other equities research analysts have also commented on the company. Royal Bank of Canada decreased their price target on SBA Communications from $370.00 to $330.00 and set an outperform rating on the stock in a research note on Monday, November 7th. Cowen reduced their target price on SBA Communications from $389.00 to $341.00 and set an outperform rating on the stock in a research note on Tuesday, November 1st. Morgan Stanley reduced their target price on SBA Communications from $366.00 to $309.00 and set an overweight rating on the stock in a research note on Tuesday, October 18th. Wells Fargo & Company reduced their target price on SBA Communications from $355.00 to $325.00 and set an overweight rating on the stock in a research note on Tuesday, October 18th. Finally, UBS Group reduced their target price on SBA Communications to $365.00 in a research note on Friday, November 4th. Three research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $345.47.

SBA Communications Trading Up 1.2 %

NASDAQ:SBAC opened at $297.61 on Tuesday. SBA Communications has a 12-month low of $236.20 and a 12-month high of $391.15. The firm has a market cap of $32.13 billion, a PE ratio of 80.22 and a beta of 0.46. The stock has a fifty day moving average price of $277.57 and a 200 day moving average price of $310.20.

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

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.71 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.95%. SBA Communications’s payout ratio is 76.55%.

Institutional Trading of SBA Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Toroso Investments LLC increased its holdings in shares of SBA Communications by 3.9% during the 3rd quarter. Toroso Investments LLC now owns 3,047 shares of the technology company’s stock worth $867,000 after buying an additional 114 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in SBA Communications by 45.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,406 shares of the technology company’s stock worth $970,000 after purchasing an additional 1,070 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in SBA Communications during the 3rd quarter worth $2,834,000. FourThought Financial LLC boosted its position in SBA Communications by 12.2% during the 3rd quarter. FourThought Financial LLC now owns 1,340 shares of the technology company’s stock worth $382,000 after purchasing an additional 146 shares during the period. Finally, Ninepoint Partners LP boosted its position in SBA Communications by 22.1% during the 3rd quarter. Ninepoint Partners LP now owns 3,803 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 689 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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