SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• SBA Communications Corporation has received a consensus recommendation of "Moderate Buy" from 17 analysts, with an average target price of $256.38.
• The company reported earnings of $3.17 per share for the last quarter, surpassing analyst estimates of $3.10, along with a revenue increase of 5.8% year-over-year.
• SBA Communications has declared a quarterly dividend payout of $1.11 per share, which translates to an annualized yield of 2.3%, and the payment is scheduled for September 18th.

Shares of SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen analysts that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $256.3750.

A number of equities research analysts have recently issued reports on SBAC shares. Morgan Stanley increased their target price on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 22nd. JMP Securities set a $280.00 price target on SBA Communications and gave the company a "market outperform" rating in a report on Tuesday, August 5th. Wells Fargo & Company increased their price target on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Bank of America downgraded SBA Communications from a "buy" rating to a "neutral" rating and reduced their price target for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. Finally, Citigroup reiterated an "outperform" rating on shares of SBA Communications in a research note on Tuesday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBAC. Independence Bank of Kentucky bought a new position in SBA Communications during the 1st quarter worth approximately $28,000. CVA Family Office LLC lifted its holdings in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company's stock worth $31,000 after buying an additional 67 shares during the last quarter. Stone House Investment Management LLC bought a new position in SBA Communications during the 1st quarter worth approximately $33,000. Allworth Financial LP lifted its holdings in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after buying an additional 62 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after buying an additional 84 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

SBAC stock opened at $191.35 on Tuesday. SBA Communications has a 1 year low of $186.81 and a 1 year high of $252.64. The firm has a market cap of $20.55 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The stock has a 50-day simple moving average of $222.96 and a 200-day simple moving average of $224.73.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The business had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. During the same quarter last year, the firm earned $3.29 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. On average, equities research analysts predict that SBA Communications will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio is 56.42%.

About SBA Communications

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.

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