Shares of SBA Communications Co. (NASDAQ: SBAC – Get Rating) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $ 391.13.
Several research analysts have recently weighed in on SBAC shares. Credit Suisse Group boosted their price target on shares of SBA Communications from $ 383.00 to $ 405.00 and gave the company an “outperform” rating in a research report on Tuesday, April 26th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Royal Bank of Canada reduced their price objective on shares of SBA Communications from $ 380.00 to $ 370.00 and set an “outperform” rating on the stock in a report on Monday, March 7th. Wells Fargo & Company boosted their price target on shares of SBA Communications from $ 375.00 to $ 390.00 and gave the company an “overweight” rating in a report on Monday, April 18th. Finally, Barclays boosted their price target 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.
Shares of SBAC stock opened at $ 327.73 on Wednesday. The company 50-day moving average price is $ 333.06 and its 200-day moving average price is $ 336.07. The stock has a market cap of $ 35.34 billion, a price-to-earnings ratio of 82.76 and a beta of 0.41. SBA Communications has a twelve month low of $ 286.41 and a twelve month high of $ 391.15.
SBA Communications (NASDAQ: SBAC – Get Rating) last announced its quarterly earnings results on Monday, April 25th. The technology company reported $ 1.72 earnings per share for the quarter, beating the consensus estimate of $ 1.00 by $ 0.72. The firm had revenue of $ 619.77 million for the quarter, compared to analysts’ expectations of $ 603.91 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The company revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $ 2.58 EPS. On average, analysts expect that SBA Communications will post 11.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 14th. Investors of record on Thursday, May 19th were paid a dividend of $ 0.71 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 2.84 dividend on an annualized basis and a dividend yield of 0.87%. SBA Communications’s payout ratio is 71.72%.
In related news, CEO Jeffrey Stoops sold 30,000 shares of the company stock in a transaction that occurred 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 directly owns 83,668 shares of the company stock, valued at $ 28,787,648.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 1,000 shares of the company stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $ 338.05, for a total value of $ 338,050.00. Following the completion of the transaction, the executive vice president now directly owns 23,884 shares of the company stock, valued at $ 8,073,986.20. The disclosure for this sale can be found here. Insiders have sold 32,889 shares of company stock worth $ 11,316,993 over the last 90 days. Insiders own 1.80% of the company stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PFG Advisors boosted its holdings in SBA Communications by 1.2% in the first quarter. PFG Advisors now owns 2,621 shares of the technology company stock valued at $ 902,000 after purchasing an additional 30 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of SBA Communications by 6.0% in the first quarter. Signaturefd LLC now owns 546 shares of the technology company stock valued at $ 188,000 after acquiring an additional 31 shares during the period. Hotaling Investment Management LLC boosted its holdings in shares of SBA Communications by 4.9% in the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company stock valued at $ 244,000 after acquiring an additional 33 shares during the period. Marks Group Wealth Management Inc boosted its holdings in shares of SBA Communications by 2.9% in the first quarter. Marks Group Wealth Management Inc now owns 1,176 shares of the technology company stock valued at $ 405,000 after acquiring an additional 33 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of SBA Communications by 1.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company stock valued at $ 1,116,000 after acquiring an additional 34 shares during the period. 95.41% of the stock is owned by hedge funds and other institutional investors.
SBA Communications Company Profile: (Get Rating)
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.
Featured Stories:
Receive News & Ratings for SBA Communications Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SBA Communications and related companies with MarketBeat.com’s FREE daily email newsletter.
.