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

SBA Communications Co. (NASDAQ:SBAC) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $254.92.

SBAC has been the subject of several research reports. TD Cowen lifted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley increased their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Raymond James upped their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, KeyCorp raised their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction 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 sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its position in shares of SBA Communications by 6.4% during the second quarter. Commonwealth Equity Services LLC now owns 10,419 shares of the technology company’s stock valued at $2,045,000 after buying an additional 630 shares during the period. Van ECK Associates Corp lifted its stake in SBA Communications by 8.7% in the 2nd quarter. Van ECK Associates Corp now owns 22,739 shares of the technology company’s stock worth $4,464,000 after purchasing an additional 1,812 shares in the last quarter. Natixis Advisors LLC boosted its holdings in SBA Communications by 8.4% in the 2nd quarter. Natixis Advisors LLC now owns 51,120 shares of the technology company’s stock valued at $10,035,000 after purchasing an additional 3,946 shares during the period. Legacy Capital Wealth Partners LLC purchased a new position in shares of SBA Communications during the 2nd quarter valued at $342,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.2 %

NASDAQ:SBAC opened at $203.80 on Thursday. The firm has a fifty day simple moving average of $218.98 and a two-hundred day simple moving average of $220.90. SBA Communications has a 12 month low of $183.64 and a 12 month high of $255.90. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 0.72 and a beta of 0.67.

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

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

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.