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

SBA Communications Co. (NASDAQ:SBACGet Free Report) has been assigned an average rating of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $249.08.

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Citigroup decreased their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 target price on the stock. Royal Bank of Canada decreased their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, TD Cowen cut their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th.

Check Out Our Latest Research Report on SBA Communications

Hedge Funds Weigh In On SBA Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC acquired a new position in SBA Communications in the fourth quarter valued at $37,000. Glassman Wealth Services raised its holdings 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 valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. raised its holdings in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP raised its holdings in shares of SBA Communications by 37.8% during 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 period. Finally, Quarry LP raised its holdings in shares of SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 0.2 %

Shares of SBAC stock opened at $195.19 on Thursday. The firm has a 50 day moving average price of $194.39 and a two-hundred day moving average price of $210.71. The company has a market capitalization of $20.97 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same period in the previous year, the business earned $3.13 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts expect that SBA Communications will post 12.51 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were issued a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.01%. SBA Communications’s payout ratio is 76.86%.

SBA Communications Company Profile

(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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