SBA Communications (NASDAQ:SBAC) Upgraded at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBACFree Report) from a hold rating to a buy rating in a research report released on Wednesday.

A number of other brokerages have also recently issued reports on SBAC. TD Cowen lowered their target price on SBA Communications from $266.00 to $253.00 and set a buy rating for the company in a report on Tuesday, April 30th. Bank of America raised SBA Communications from a neutral rating to a buy rating and set a $260.00 target price for the company in a report on Thursday, March 7th. KeyCorp lowered their target price on SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company decreased their price target on SBA Communications from $260.00 to $230.00 and set an overweight rating for the company in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada decreased their price target on SBA Communications from $250.00 to $235.00 and set an outperform rating for the company in a research note on Thursday, May 9th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of Buy and an average price target of $252.25.

View Our Latest Report on SBAC

SBA Communications Stock Down 1.7 %

Shares of SBAC stock opened at $199.38 on Wednesday. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a market cap of $21.42 billion, a P/E ratio of 39.09, a P/E/G ratio of 0.60 and a beta of 0.59. The business has a fifty day simple moving average of $205.70 and a 200 day simple moving average of $222.29.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter in the prior year, the firm earned $3.13 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities research analysts anticipate that SBA Communications will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.97%. SBA Communications’s payout ratio is 76.86%.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after acquiring an additional 1,524,302 shares during the period. Invesco Ltd. raised its stake in SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after acquiring an additional 1,252,764 shares during the period. Norges Bank bought a new stake in SBA Communications in the 4th quarter valued at about $286,079,000. Ameriprise Financial Inc. raised its stake in SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after acquiring an additional 727,163 shares during the period. Finally, Bristol John W & Co. Inc. NY bought a new stake in shares of SBA Communications during the third quarter valued at about $92,725,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

About SBA Communications

(Get Free Report)

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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