SBA Communications (NASDAQ:SBAC) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a research note published on Thursday.

Other equities analysts also recently issued research reports about the company. Barclays raised their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets upped their target price on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Up 1.2 %

Shares of NASDAQ SBAC traded up $2.76 during midday trading on Thursday, reaching $224.34. 968,558 shares of the company’s stock traded hands, compared to its average volume of 925,491. The company has a market cap of $24.12 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 0.74 and a beta of 0.68. SBA Communications has a one year low of $183.64 and a one year high of $258.76. The stock’s 50 day simple moving average is $237.80 and its 200-day simple moving average is $215.20.

SBA Communications (NASDAQ:SBAC) last posted its 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 net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter last year, the firm earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts predict that SBA Communications will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.75%. SBA Communications’s payout ratio is currently 61.83%.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in SBA Communications during the third quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $32,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the third quarter valued at $35,000. Family Firm Inc. bought a new position in SBA Communications in the second quarter worth $36,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of SBA Communications during the 2nd quarter worth about $49,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

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.