Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Target Price at $225.53

by · The Cerbat Gem

SBA Communications Corporation (NASDAQ:SBAC – Get Free Report) has received an average rating of “Hold” from the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $224.8667.

A number of equities research analysts recently commented on the company. UBS Group downgraded SBA Communications from a “market perform” rating to a “hold” rating in a research report on Monday, August 24th. JPMorgan Chase & Co. decreased their price objective on SBA Communications from $230.00 to $220.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Citigroup reiterated a “market perform” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Barclays cut their target price on shares of SBA Communications from $245.00 to $208.00 and set an “overweight” rating for the company in a report on Thursday, August 20th. Finally, Wells Fargo & Company upgraded shares of SBA Communications from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $220.00 to $210.00 in a research report on Friday, July 17th.

Check Out Our Latest Stock Report on SBA Communications

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in SBA Communications in the 4th quarter valued at about $302,774,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of SBA Communications during the second quarter worth approximately $228,367,000. Arrowstreet Capital Limited Partnership increased its position in shares of SBA Communications by 256.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock worth $211,344,000 after acquiring an additional 785,850 shares during the period. SG Americas Securities LLC raised its stake in shares of SBA Communications by 170.6% during the first quarter. SG Americas Securities LLC now owns 469,911 shares of the technology company’s stock valued at $80,876,000 after acquiring an additional 296,231 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of SBA Communications by 41.7% during the first quarter. Bank of America Corp DE now owns 1,005,366 shares of the technology company’s stock valued at $173,033,000 after acquiring an additional 295,727 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 1.3%

Shares of SBAC stock opened at $176.28 on Friday. The stock has a market cap of $18.70 billion, a P/E ratio of 19.00, a PEG ratio of 1.78 and a beta of 0.99. SBA Communications has a 52 week low of $162.41 and a 52 week high of $224.46. The company’s fifty day simple moving average is $183.25 and its two-hundred day simple moving average is $192.92.

SBA Communications (NASDAQ:SBAC – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. During the same quarter in the prior year, the firm earned $3.17 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that SBA Communications will post 11.41 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

SBA Communications Company Profile

(Get Free Report)

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns and operates wireless communications infrastructure. The company provides the sites and facilities that wireless service providers use to support cellular networks, including traditional macro towers, small cells and distributed antenna systems.

SBA’s primary business is leasing space on its communications infrastructure to wireless carriers and other communications companies. It also develops, acquires and manages wireless sites, helping customers expand network coverage and capacity.

Further Reading