SBA Communications Corporation (NASDAQ:SBAC) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analyst sentiment is moderately positive: 18 brokerages are split evenly between buy and hold ratings, with an average 12-month price target of $224.64.
• SBA Communications beat quarterly EPS estimates, reporting $2.19 versus $2.09 expected, but revenue missed forecasts at $713.92 million and fell 2.5% year over year.
• The company announced a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 2.6% yield.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) has received an average rating of "Moderate Buy" from the eighteen brokerages that are presently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $224.64.

Several brokerages have recently commented on SBAC. Jefferies Financial Group raised SBA Communications to a "hold" rating in a report on Thursday, October 15th. Raymond James Financial reaffirmed an "outperform" rating and set a $271.00 price target on shares of SBA Communications in a report on Monday, October 5th. TD Cowen raised their price target on SBA Communications from $229.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. Wolfe Research upgraded SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. Finally, Citigroup reiterated a "market outperform" rating on shares of SBA Communications in a research report on Tuesday.

Insider Buying and Selling at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the transaction, the director directly owned 8,512 shares of the company's stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.50% of the company's stock.

Institutional Investors Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of SBA Communications in the 2nd quarter valued at $228,367,000. Arrowstreet Capital Limited Partnership raised its stake in SBA Communications by 47.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,615,054 shares of the technology company's stock worth $277,967,000 after buying an additional 522,442 shares during the period. Aberdeen Group plc lifted its holdings in SBA Communications by 206.7% during the third quarter. Aberdeen Group plc now owns 711,596 shares of the technology company's stock worth $113,941,000 after acquiring an additional 479,551 shares in the last quarter. Bank of America Corp DE lifted its holdings in 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 worth $173,033,000 after acquiring an additional 295,727 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in SBA Communications by 39.5% during the third quarter. Russell Investments Group Ltd. now owns 649,620 shares of the technology company's stock worth $104,052,000 after acquiring an additional 183,859 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Down 1.9%

NASDAQ:SBAC opened at $189.42 on Friday. The firm has a market cap of $20.10 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.90 and a beta of 0.97. SBA Communications has a 12 month low of $156.60 and a 12 month high of $224.46. The company's 50-day moving average price is $179.80 and its two-hundred day moving average price is $190.00.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.10. The firm had revenue of $713.92 million for the quarter, compared to analysts' expectations of $724.07 million. SBA Communications had a net margin of 34.54% and a negative return on equity of 20.67%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.30 earnings per share. On average, research analysts expect that SBA Communications will post 11.45 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be paid a $1.25 dividend. The ex-dividend date is Thursday, November 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. SBA Communications's dividend payout ratio (DPR) is 53.94%.

SBA Communications Company Profile

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