SBA Communications Co. (NASDAQ:SBAC) Receives $268.00 Consensus Price Target from Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have earned an average recommendation of “Buy” from the eleven research firms that are currently 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 twelve-month price objective among analysts that have issued ratings on the stock in the last year is $258.23.

Several research firms have issued reports on SBAC. BMO Capital Markets dropped their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Citigroup reduced their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen decreased their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. Finally, Barclays decreased their target price on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a report on Tuesday.

SBA Communications Stock Down 0.4 %

Shares of SBAC stock opened at $193.09 on Friday. The stock has a 50-day simple moving average of $208.78 and a 200 day simple moving average of $222.32. The stock has a market capitalization of $20.87 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.16 and a beta of 0.59. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to analyst estimates 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 for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 EPS. On average, sell-side analysts anticipate that SBA Communications will post 12.61 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is currently 76.86%.

Insider Activity

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

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Advisers LLC bought a new stake in SBA Communications during the 3rd quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of SBA Communications in the fourth quarter worth $37,000. Glassman Wealth Services increased its position in SBA Communications by 79.1% during the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares during the period. Pinnacle Bancorp Inc. raised its stake in SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

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.