SBA Communications Corporation (NASDAQ:SBAC) Receives $256.38 Consensus PT from 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.

SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seventeen analysts that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $256.3750.

Several research analysts recently weighed in on SBAC shares. Scotiabank assumed coverage on SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a report on Tuesday, May 20th. Morgan Stanley boosted their target price on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Raymond James Financial set a $265.00 price objective on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company boosted their target price on shares of SBA Communications from $225.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th.

SBA Communications Trading Up 0.3%

NASDAQ:SBAC traded up $0.53 during trading hours on Tuesday, hitting $199.97. 1,334,433 shares of the stock were exchanged, compared to its average volume of 1,260,291. The firm's fifty day moving average price is $219.72 and its 200 day moving average price is $224.12. The company has a market cap of $21.47 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.89 and a beta of 0.80. SBA Communications has a 52-week low of $186.81 and a 52-week high of $252.64.

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

SBA Communications Dividend Announcement

The firm 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 $1.11 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. SBA Communications's dividend payout ratio (DPR) is 56.42%.

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of SBAC. Baird Financial Group Inc. lifted its position in shares of SBA Communications by 25.2% in the 4th quarter. Baird Financial Group Inc. now owns 2,445 shares of the technology company's stock worth $498,000 after purchasing an additional 492 shares during the period. Captrust Financial Advisors lifted its holdings in shares of SBA Communications by 56.0% in the fourth quarter. Captrust Financial Advisors now owns 6,738 shares of the technology company's stock worth $1,373,000 after buying an additional 2,420 shares in the last quarter. EP Wealth Advisors LLC raised its stake in SBA Communications by 5.4% in the fourth quarter. EP Wealth Advisors LLC now owns 2,438 shares of the technology company's stock valued at $497,000 after purchasing an additional 126 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $713,000. Finally, Ethic Inc. grew its holdings in shares of SBA Communications by 29.1% in the fourth quarter. Ethic Inc. now owns 6,271 shares of the technology company's stock worth $1,278,000 after purchasing an additional 1,414 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

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.