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

SBA Communications Co. (NASDAQ:SBAC) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $252.25.

A number of equities research analysts have recently commented on the stock. KeyCorp lowered their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada dropped their target price 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. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen dropped their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in SBA Communications during the 4th quarter worth $37,000. Glassman Wealth Services increased its position in shares of SBA Communications by 79.1% during the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares in the last quarter. Allworth Financial LP boosted its holdings in SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Quarry LP grew its stake in SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.4 %

Shares of SBAC stock opened at $188.09 on Wednesday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The business has a fifty day simple moving average of $203.13 and a 200-day simple moving average of $221.52. The stock has a market cap of $20.21 billion, a P/E ratio of 36.88, a P/E/G ratio of 0.60 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same period in the prior year, the business earned $3.13 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts anticipate that SBA Communications will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio is presently 76.86%.

About SBA Communications

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.