SBA Communications Co. (NASDAQ:SBAC) Receives Consensus Rating of “Buy” from Analysts

SBA Communications Co. (NASDAQ:SBAC) has been given an average rating of “Buy” by the eleven analysts that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $258.23.

A number of research firms have recently issued reports on SBAC. Citigroup dropped their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. Wells Fargo & Company dropped their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays dropped their price target on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets lowered their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated 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 owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of SBA Communications by 9.8% during the 3rd quarter. CWM LLC now owns 1,049 shares of the technology company’s stock worth $210,000 after purchasing an additional 94 shares during the last quarter. SG Americas Securities LLC raised its holdings in SBA Communications by 10.8% in the 3rd quarter. SG Americas Securities LLC now owns 6,881 shares of the technology company’s stock valued at $1,377,000 after acquiring an additional 670 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of SBA Communications during the 3rd quarter valued at $202,000. Czech National Bank grew its stake in shares of SBA Communications by 47.7% during the 3rd quarter. Czech National Bank now owns 18,943 shares of the technology company’s stock valued at $3,792,000 after buying an additional 6,118 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in shares of SBA Communications by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock valued at $8,664,000 after buying an additional 188 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $189.12 on Friday. The business has a 50 day simple moving average of $209.12 and a two-hundred day simple moving average of $222.52. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a market capitalization of $20.45 billion, a P/E ratio of 37.08, a PEG ratio of 1.24 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.79% 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 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications will post 12.61 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.07%. 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.