SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $258.25.

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of SBA Communications from $247.00 to $257.00 and gave the stock an “overweight” rating in a report on Wednesday, July 23rd. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a “buy” rating to a “hold” rating and set a $247.00 price target for the company. in a report on Tuesday, May 20th. Wall Street Zen cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Finally, UBS Group raised their price target on shares of SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company’s stock valued at $260,000 after buying an additional 246 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in SBA Communications during the first quarter worth about $302,000. GAMMA Investing LLC boosted its holdings in SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock worth $370,000 after purchasing an additional 469 shares during the last quarter. Praxis Investment Management Inc. purchased a new position in SBA Communications during the first quarter worth about $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in SBA Communications by 14.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company’s stock worth $3,146,000 after purchasing an additional 1,769 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 1.1%

SBAC opened at $216.91 on Friday. SBA Communications has a twelve month low of $192.55 and a twelve month high of $252.64. The company has a fifty day moving average of $229.55 and a 200-day moving average of $223.79. The stock has a market cap of $23.31 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. SBA Communications’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.29 earnings per share. Sell-side analysts anticipate that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

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.