JPMorgan Chase & Co. Cuts SBA Communications (NASDAQ:SBAC) Price Target to $240.00

SBA Communications (NASDAQ:SBAC) had its price objective decreased by JPMorgan Chase & Co. from $245.00 to $240.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the technology company’s stock.

Several other research firms have also issued reports on SBAC. Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Citigroup cut their target price on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Barclays reduced their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. Finally, The Goldman Sachs Group reduced their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $233.59.

SBA Communications Trading Up 2.1%

NASDAQ SBAC opened at $192.06 on Monday. The firm’s fifty day simple moving average is $192.08 and its 200-day simple moving average is $203.90. SBA Communications has a 1-year low of $179.89 and a 1-year high of $245.16. The company has a market capitalization of $20.46 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $3.32 EPS. As a group, analysts predict that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is presently 57.89%.

Institutional Trading of SBA Communications

Hedge funds have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of SBA Communications by 3.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock worth $42,202,000 after purchasing an additional 5,246 shares during the period. Impax Asset Management Group plc increased its stake in SBA Communications by 58.2% during the 2nd quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 2,023 shares in the last quarter. Avanza Fonder AB raised its holdings in SBA Communications by 37.3% during the 2nd quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock worth $2,063,000 after buying an additional 2,386 shares during the period. Donoghue Forlines LLC bought a new position in SBA Communications in the second quarter valued at approximately $2,824,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of SBA Communications in the second quarter valued at approximately $453,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.