SBA Communications Co. (NASDAQ:SBAC) Receives $252.25 Average PT from Analysts

Shares of SBA Communications Co. (NASDAQ:SBACGet Free Report) have earned a consensus rating of “Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $252.25.

SBAC has been the topic of several recent analyst reports. Barclays reduced their price target on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. Citigroup dropped their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada dropped their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Wells Fargo & Company lowered their price target on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th.

Check Out Our Latest Stock Report on SBA Communications

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB boosted its stake in SBA Communications by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after purchasing an additional 16,244 shares during the last quarter. Legacy Trust acquired a new stake in SBA Communications during the 4th quarter worth $3,256,000. Franklin Resources Inc. boosted its stake in SBA Communications by 2.8% during the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after purchasing an additional 19,462 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in SBA Communications during the 4th quarter worth $343,000. Finally, Lecap Asset Management Ltd. acquired a new stake in SBA Communications during the 4th quarter worth $2,122,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $187.29 on Wednesday. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a market capitalization of $20.12 billion, a PE ratio of 36.72, a P/E/G ratio of 0.60 and a beta of 0.59. The company’s fifty day moving average is $202.07 and its 200 day moving average is $221.08.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings data 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. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.13 earnings per share. As a group, research analysts forecast that SBA Communications will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio is presently 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.

See Also

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.