SBA Communications (NASDAQ:SBAC) Price Target Raised to $366.00

SBA Communications (NASDAQ:SBACGet Rating) had its price objective lifted by Morgan Stanley from $361.00 to $366.00 in a report released on Friday, Marketbeat.com reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Credit Suisse Group upped their price target on shares of SBA Communications from $405.00 to $408.00 and gave the stock an outperform rating in a research report on Tuesday, August 2nd. KeyCorp upped their price target on shares of SBA Communications from $367.00 to $389.00 and gave the stock an overweight rating in a research report on Wednesday, August 3rd. Barclays dropped their price target on shares of SBA Communications from $385.00 to $380.00 and set an overweight rating on the stock in a research report on Friday, August 26th. The Goldman Sachs Group dropped their price target on shares of SBA Communications from $424.00 to $381.00 and set a buy rating on the stock in a research report on Tuesday, July 12th. Finally, Jefferies Financial Group dropped their price target on shares of SBA Communications from $383.00 to $347.00 and set a hold rating on the stock in a research report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $384.67.

SBA Communications Stock Down 0.0 %

Shares of SBAC stock opened at $311.62 on Friday. The company’s fifty day simple moving average is $330.42 and its 200-day simple moving average is $332.99. The firm has a market cap of $33.60 billion, a PE ratio of 95.31 and a beta of 0.44. SBA Communications has a 12 month low of $286.41 and a 12 month high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The business had revenue of $652.01 million during the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.64 EPS. On average, equities analysts predict that SBA Communications will post 11.2 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, August 25th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 annualized dividend and a dividend yield of 0.91%. SBA Communications’s dividend payout ratio (DPR) is presently 87.93%.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 8,213 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $355.50, for a total value of $2,919,721.50. Following the transaction, the executive vice president now directly owns 23,884 shares in the company, valued at $8,490,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SBA Communications news, EVP Mark R. Ciarfella sold 5,760 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $343.94, for a total transaction of $1,981,094.40. Following the sale, the executive vice president now directly owns 23,884 shares in the company, valued at $8,214,662.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark R. Ciarfella sold 8,213 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $355.50, for a total transaction of $2,919,721.50. Following the sale, the executive vice president now owns 23,884 shares in the company, valued at $8,490,762. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,152 shares of company stock worth $18,852,602. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently bought and sold shares of SBAC. Norges Bank acquired a new stake in SBA Communications during the fourth quarter worth about $339,836,000. FMR LLC lifted its holdings in shares of SBA Communications by 37.5% in the second quarter. FMR LLC now owns 2,875,067 shares of the technology company’s stock worth $920,165,000 after acquiring an additional 783,686 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of SBA Communications by 93.3% in the first quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock worth $480,617,000 after acquiring an additional 674,248 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of SBA Communications by 45.1% in the first quarter. Invesco Ltd. now owns 2,099,226 shares of the technology company’s stock worth $722,344,000 after acquiring an additional 652,954 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of SBA Communications by 26.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,988,846 shares of the technology company’s stock worth $956,580,000 after acquiring an additional 624,389 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

About SBA Communications

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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