SBA Communications Co. (NASDAQ:SBAC) Given Average Rating of "Moderate Buy" by Brokerages

Shares of SBA Communications Co. (NASDAQ:SBAC - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $257.23.

Several equities analysts recently weighed in on SBAC shares. Royal Bank of Canada boosted their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Morgan Stanley upped their target price on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Finally, BMO Capital Markets increased their target price on SBA Communications from $255.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th.

SBA Communications Trading Down 0.5 %

SBA Communications stock traded down $1.02 during trading hours on Wednesday, reaching $218.58. 459,997 shares of the company were exchanged, compared to its average volume of 926,757. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a 50-day moving average of $237.29 and a 200 day moving average of $215.99. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 earnings per share. As a group, research analysts forecast that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

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

Insider Activity

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company's stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Institutional Trading of SBA Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the 3rd quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at about $32,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at approximately $35,000. Family Firm Inc. bought a new stake in SBA Communications during the 2nd quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in SBA Communications during the 2nd quarter worth approximately $49,000. 97.35% of the stock is owned by institutional investors.

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.