Barclays Lowers SBA Communications (NASDAQ:SBAC) Price Target to $254.00

SBA Communications (NASDAQ:SBAC - Free Report) had its target price reduced by Barclays from $257.00 to $254.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company's stock.

Other research analysts also recently issued research reports about the company. BMO Capital Markets restated a "market perform" rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Wells Fargo & Company upped their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Finally, 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 research note on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.77.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $2.20 during mid-day trading on Monday, hitting $194.96. 845,858 shares of the stock were exchanged, compared to its average volume of 813,894. The company has a market capitalization of $20.96 billion, a P/E ratio of 30.75, a P/E/G ratio of 0.72 and a beta of 0.69. The company has a 50-day simple moving average of $213.83 and a 200 day simple moving average of $221.38. SBA Communications has a 12 month low of $183.64 and a 12 month high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during 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%. The business's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 EPS. Analysts predict that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications's dividend payout ratio is presently 61.83%.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company'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 value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm'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 sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SBAC. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in SBA Communications during the 3rd quarter valued at approximately $35,000. Friedenthal Financial purchased a new position in SBA Communications in the 3rd quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its stake in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares during the period. Finally, Eastern Bank purchased a new stake in SBA Communications during the 3rd quarter valued at approximately $58,000. Institutional investors own 97.35% of the company's stock.

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.