SBA Communications Co. (NASDAQ:SBAC) Receives $257.23 Consensus PT from Analysts

SBA Communications Co. (NASDAQ:SBAC) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $257.23.

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays upped their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, KeyCorp lifted their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th.

SBA Communications Stock Down 0.8 %

Shares of NASDAQ SBAC opened at $214.28 on Friday. The company has a market cap of $23.04 billion, a price-to-earnings ratio of 33.80, a P/E/G ratio of 0.73 and a beta of 0.67. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The business has a fifty day simple moving average of $228.76 and a 200-day simple moving average of $220.07.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter last year, the company earned $3.34 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that SBA Communications will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several hedge funds have recently added to or reduced their stakes in SBAC. State Street Corp raised its position in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares during the period. Diamond Hill Capital Management Inc. lifted its position in SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after acquiring an additional 233,179 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after acquiring an additional 62,555 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the period. Finally, American Century Companies Inc. grew its position in shares of SBA Communications by 15.5% in the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.