SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses - site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.
Analyst Ratings Changes
A number of research analysts have weighed in on SBAC shares. Barclays lifted their price objective on shares of SBA Communications from $378.00 to $385.00 and gave the company an "overweight" rating in a report on Tuesday, April 26th. Moffett Nathanson downgraded SBA Communications from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $393.00 to $380.00 in a report on Monday, April 11th. Morgan Stanley dropped their price target on SBA Communications from $389.00 to $361.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 20th. Raymond James lifted their price target on SBA Communications from $385.00 to $410.00 and gave the company a "strong-buy" rating in a research note on Tuesday, April 26th. Finally, Jefferies Financial Group lowered their price objective on shares of SBA Communications from $383.00 to $347.00 and set a "hold" rating on the stock in a research note on Thursday, June 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $385.88.
SBA Communications Stock Performance
Shares of NASDAQ:SBAC traded down $0.88 during trading on Friday, reaching $345.40. The stock had a trading volume of 439,373 shares, compared to its average volume of 530,025. SBA Communications has a one year low of $286.41 and a one year high of $391.15. The stock has a market cap of $37.24 billion, a PE ratio of 106.93 and a beta of 0.43. The firm's 50 day moving average price is $323.52 and its two-hundred day moving average price is $328.64.
SBA Communications (NASDAQ:SBAC - Get Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.26). The company had revenue of $652.01 million for the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. SBA Communications's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.64 earnings per share. On average, research analysts expect that SBA Communications will post 11.2 earnings per share for the current year.
SBA Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, August 25th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a yield of 0.82%. SBA Communications's payout ratio is currently 87.93%.
Insider Buying and Selling
In related news, CEO Jeffrey Stoops sold 30,000 shares of the company's stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the completion of the transaction, the chief executive officer now directly owns 83,668 shares in the company, valued at approximately $28,787,648.76. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Jeffrey Stoops sold 30,000 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the transaction, the chief executive officer now owns 83,668 shares of the company's stock, valued at $28,787,648.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Duncan Cocroft sold 1,152 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the transaction, the director now directly owns 64,592 shares of the company's stock, valued at approximately $22,251,944. The disclosure for this sale can be found here. Insiders sold a total of 37,912 shares of company stock worth $13,038,108 in the last three months. 1.80% of the stock is owned by insiders.
