Analysts Set SBA Communications Corporation (NASDAQ:SBAC) Target Price at $258.25

Key Points

• SBA Communications Corporation (NASDAQ:SBAC) received an average recommendation of "Moderate Buy" from 17 brokerages, with a 12-month target price of $258.25.
• JPMorgan Chase & Co. increased its stake in SBA Communications by 40.3%, significantly boosting its holdings to nearly $1.31 billion.
• The company reported earnings of $3.17 per share, exceeding analysts' expectations, and announced a quarterly dividend of $1.11 per share, yielding 2.0% annually.

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $258.25.

Several research firms recently commented on SBAC. Morgan Stanley raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Bank of America started coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price objective for the company. UBS Group increased their target price on shares of SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Scotiabank began coverage on shares of SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price for the company. Finally, BMO Capital Markets upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th.

Institutional Trading of SBA Communications

Several hedge funds have recently bought and sold shares of SBAC. Raymond James Financial Inc. purchased a new position in SBA Communications during the 4th quarter valued at approximately $20,765,000. Mariner LLC grew its holdings in shares of SBA Communications by 17.6% in the fourth quarter. Mariner LLC now owns 6,118 shares of the technology company's stock valued at $1,247,000 after purchasing an additional 917 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in SBA Communications in the fourth quarter worth $165,000. NewEdge Advisors LLC raised its stake in SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in SBA Communications during the fourth quarter valued at $49,297,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of SBAC stock traded down $3.51 during trading hours on Friday, reaching $216.43. The company had a trading volume of 289,608 shares, compared to its average volume of 858,674. The company has a market cap of $23.24 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. SBA Communications has a 12 month low of $192.55 and a 12 month high of $252.64. The business has a fifty day simple moving average of $229.43 and a 200-day simple moving average of $224.27.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. The business's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $3.29 EPS. On average, equities research analysts expect that SBA Communications will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. The ex-dividend date is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.1%. SBA Communications's dividend payout ratio is currently 56.42%.

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.