UBS Group Raises SBA Communications (NASDAQ:SBAC) Price Target to $410.00

SBA Communications (NASDAQ:SBACGet Rating) had its price objective upped by UBS Group from $400.00 to $410.00 in a report released on Tuesday, MarketBeat.com reports. UBS Group currently has a buy rating on the technology company’s stock.

Other analysts have also issued reports about the company. StockNews.com lowered SBA Communications from a buy rating to a hold rating in a research note on Friday, June 10th. Deutsche Bank Aktiengesellschaft lifted their price target on SBA Communications from $375.00 to $385.00 in a research note on Tuesday. Cowen lifted their price target on SBA Communications from $373.00 to $382.00 in a research note on Tuesday, April 26th. KeyCorp cut their price target on SBA Communications from $393.00 to $367.00 and set an overweight rating on the stock in a research note on Friday, July 1st. Finally, Cowen lifted their price target on SBA Communications from $373.00 to $382.00 in a research note on Tuesday, April 26th. Three equities research 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 stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $385.88.

SBA Communications Stock Up 0.7 %

NASDAQ:SBAC opened at $346.28 on Tuesday. The stock’s 50-day simple moving average is $323.56 and its 200 day simple moving average is $328.45. The firm has a market capitalization of $37.34 billion, a PE ratio of 107.21 and a beta of 0.43. SBA Communications has a twelve month low of $286.41 and a twelve month high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). The business had revenue of $652.01 million during the quarter, compared to analyst estimates of $626.30 million. SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $2.64 earnings per share. On average, analysts anticipate that SBA Communications will post 11.08 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Thursday, August 25th will be issued a $0.71 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a yield of 0.82%. SBA Communications’s payout ratio is currently 87.93%.

Insiders Place Their Bets

In other SBA Communications news, CEO Jeffrey Stoops sold 30,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the sale, the chief executive officer now directly owns 83,668 shares in the company, valued at $28,787,648.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the completion of the sale, the executive vice president now owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total value of $10,322,100.00. Following the sale, the chief executive officer now owns 83,668 shares of the company’s stock, valued at approximately $28,787,648.76. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new stake in shares of SBA Communications during the first quarter valued at approximately $25,000. Riverview Trust Co bought a new stake in shares of SBA Communications during the first quarter valued at approximately $26,000. Crewe Advisors LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $26,000. Curi Wealth Management LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $30,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of SBA Communications by 52.5% during the second quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock valued at $30,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 95.41% of the company’s stock.

SBA Communications Company Profile

(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.

Further Reading

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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