SBA Communications Co. (NASDAQ:SBAC) Given Average Recommendation of “Moderate Buy” by Brokerages

SBA Communications Co. (NASDAQ:SBAC) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $257.23.

SBAC has been the subject of a number of research reports. Morgan Stanley boosted their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group raised 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. KeyCorp increased their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company upped their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th.

SBA Communications Stock Performance

SBAC stock opened at $221.09 on Wednesday. The firm has a market cap of $23.77 billion, a P/E ratio of 34.87, a PEG ratio of 0.75 and a beta of 0.68. SBA Communications has a 1 year low of $183.64 and a 1 year high of $258.76. The stock’s 50 day moving average price is $236.35 and its 200 day moving average price is $216.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.34 EPS. On average, research analysts predict that SBA Communications will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.77%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

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

SBA Communications Company Profile

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.