SBA Communications Co. (NASDAQ:SBAC) Receives $257.23 Consensus PT from Brokerages

Shares of SBA Communications Co. (NASDAQ:SBAC) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $257.23.

Several brokerages have commented on SBAC. BMO Capital Markets boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Raymond James boosted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 approximately $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently made changes to their positions in the stock. TCW Group Inc. acquired a new position in shares of SBA Communications during the third quarter valued at about $3,505,000. Toronto Dominion Bank raised its holdings in shares of SBA Communications by 0.7% in the 3rd quarter. Toronto Dominion Bank now owns 64,433 shares of the technology company’s stock worth $15,509,000 after acquiring an additional 427 shares during the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of SBA Communications in the 3rd quarter worth about $266,000. Prestige Wealth Management Group LLC raised its holdings in shares of SBA Communications by 4,963.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,519 shares of the technology company’s stock worth $366,000 after acquiring an additional 1,489 shares during the last quarter. Finally, Vestcor Inc raised its holdings in shares of SBA Communications by 11.5% in the 3rd quarter. Vestcor Inc now owns 36,701 shares of the technology company’s stock worth $8,834,000 after acquiring an additional 3,773 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 1.0 %

Shares of SBAC stock opened at $219.47 on Wednesday. The firm has a 50 day moving average price of $235.53 and a two-hundred day moving average price of $216.94. The company has a market capitalization of $23.60 billion, a PE ratio of 34.62, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. SBA Communications’s dividend payout ratio is currently 61.83%.

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.