Brokerages Set SBA Communications Co. (NASDAQ:SBAC) PT at $254.92

SBA Communications Co. (NASDAQ:SBAC) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $254.92.

A number of research analysts have issued reports on SBAC shares. Wells Fargo & Company boosted their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley raised their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, TD Cowen raised their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th.

SBA Communications Trading Up 0.7 %

SBA Communications stock opened at $201.80 on Thursday. SBA Communications has a 1 year low of $183.64 and a 1 year high of $252.64. The company’s 50-day moving average is $217.26 and its two-hundred day moving average is $220.83. The company has a market cap of $21.70 billion, a PE ratio of 31.83, a PEG ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced 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). The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $3.34 earnings per share. Research analysts forecast that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at $35,000. Friedenthal Financial acquired a new stake in shares of SBA Communications during the third quarter worth $50,000. Farther Finance Advisors LLC raised its stake in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the last quarter. Finally, Eastern Bank acquired a new position in SBA Communications in the third quarter valued at $58,000. Institutional investors and hedge funds 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.