SBA Communications Co. (NASDAQ:SBAC) Receives Average Recommendation of "Buy" from Analysts

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) has received a consensus rating of "Buy" from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $252.25.

Several equities analysts have recently commented on SBAC shares. Citigroup lowered their price target on shares of SBA Communications from $290.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada decreased their price objective on shares of SBA Communications from $250.00 to $235.00 and set an "outperform" rating for the company in a report on Thursday, May 9th. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $260.00 to $230.00 and set an "overweight" rating for the company in a report on Tuesday, April 30th. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a "buy" rating for the company in a report on Tuesday, April 30th. Finally, StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Wednesday, May 15th.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company's stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its stake in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company's stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Quaero Capital S.A. lifted its holdings in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company's stock worth $946,000 after acquiring an additional 50 shares during the last quarter. Marks Group Wealth Management Inc lifted its holdings in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company's stock worth $323,000 after acquiring an additional 54 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company's stock worth $448,000 after acquiring an additional 55 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company's stock worth $338,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded down $4.60 during trading on Wednesday, hitting $193.77. The company had a trading volume of 1,016,000 shares, compared to its average volume of 991,526. The company has a market cap of $20.82 billion, a P/E ratio of 37.99, a PEG ratio of 0.59 and a beta of 0.59. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The business's 50-day moving average is $204.23 and its 200 day moving average is $221.96.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. During the same period in the previous year, the business earned $3.13 EPS. The company's revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that SBA Communications will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, May 22nd. SBA Communications's dividend payout ratio is currently 76.86%.

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.