SBA Communications Co. (NASDAQ:SBAC) Receives $254.92 Consensus PT from Brokerages

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $254.92.

A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Morgan Stanley raised their target price on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. TD Cowen boosted their price target on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Finally, Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th.

SBA Communications Price Performance

NASDAQ:SBAC traded down $3.40 during trading hours on Thursday, reaching $200.40. 513,749 shares of the company were exchanged, compared to its average volume of 917,897. The business has a 50 day moving average of $218.06 and a 200 day moving average of $220.76. SBA Communications has a 1-year low of $183.64 and a 1-year high of $254.19. The company has a market capitalization of $21.55 billion, a P/E ratio of 31.61, a P/E/G ratio of 0.72 and a beta of 0.67.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Thursday, November 14th. SBA Communications's payout ratio is 61.83%.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock worth $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after purchasing an additional 700,791 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SBA Communications in the 2nd quarter valued at about $134,738,000. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after buying an additional 605,872 shares during the period. Finally, Long Pond Capital LP bought a new stake in SBA Communications in the 2nd quarter valued at about $83,687,000. 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.