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

SBA Communications Co. (NASDAQ:SBAC) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $241.67.

SBAC has been the topic of several recent analyst reports. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada increased their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. KeyCorp boosted their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price objective for the company. Finally, Barclays lowered their target price on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th.

SBA Communications Trading Down 1.8 %

Shares of SBAC stock opened at $212.91 on Monday. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s fifty day simple moving average is $203.13 and its 200-day simple moving average is $206.35. The company has a market cap of $22.88 billion, a PE ratio of 41.75, a PEG ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same period in the prior year, the business posted $3.24 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insider Transactions at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several large investors have recently bought and sold shares of SBAC. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the second quarter worth about $32,000. Family Firm Inc. purchased a new stake in shares of SBA Communications during the second quarter worth approximately $36,000. Glassman Wealth Services lifted 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 worth $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. grew its position in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the last quarter. Finally, Allworth Financial LP increased its stake in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors 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.