SBA Communications (NASDAQ:SBAC – Get Rating) had its price objective trimmed by Jefferies Financial Group from $383.00 to $347.00 in a research note released on Thursday morning, The Fly reports. The brokerage currently has a hold rating on the technology company’s stock.
A number of other equity analysts have also recently issued reports on the stock. Cowen increased their price objective on shares of SBA Communications from $373.00 to $382.00 in a research report on Tuesday, April 26th. KeyCorp raised their target price on shares of SBA Communications from $384.00 to $393.00 and gave the stock an overweight rating in a report on Tuesday, April 26th. Deutsche Bank Aktiengesellschaft raised their target price on shares of SBA Communications from $365.00 to $375.00 in a report on Wednesday, April 27th. Morgan Stanley lowered their target price on shares of SBA Communications from $412.00 to $389.00 and set an overweight rating on the stock in a report on Tuesday, June 7th. Finally, Credit Suisse Group raised their target price on shares of SBA Communications from $383.00 to $405.00 and gave the stock an outperform rating in a report on Tuesday, April 26th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has an average rating of Moderate Buy and a consensus target price of $389.13.
Shares of SBAC opened at $320.05 on Thursday. The stock has a market capitalization of $34.51 billion, a P/E ratio of 80.82 and a beta of 0.41. The firm’s fifty day simple moving average is $329.41 and its two hundred day simple moving average is $334.96. SBA Communications has a 12 month low of $286.41 and a 12 month high of $391.15.
SBA Communications (NASDAQ:SBAC – Get Rating) last released its quarterly earnings data on Monday, April 25th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. The company 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 business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.58 EPS. As a group, research analysts forecast that SBA Communications will post 11.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 14th. Stockholders of record on Thursday, May 19th were paid a dividend of $0.71 per share. The ex-dividend date was Wednesday, May 18th. This represents a $2.84 annualized dividend and a dividend yield of 0.89%. SBA Communications’s payout ratio is currently 71.72%.
In related news, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The shares were 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’s stock, valued at approximately $28,787,648.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kevin L. Beebe sold 1,889 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $347.72, for a total transaction of $656,843.08. Following the completion of the transaction, the director now directly owns 14,813 shares of the company’s stock, valued at $5,150,776.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,889 shares of company stock valued at $11,316,993. 1.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFG Advisors boosted its holdings in SBA Communications by 1.2% in the 1st quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after buying an additional 30 shares during the period. Signaturefd LLC boosted its holdings in SBA Communications by 6.0% in the 1st quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock worth $188,000 after buying an additional 31 shares during the period. Hotaling Investment Management LLC boosted its holdings in SBA Communications by 4.9% in the 1st quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after buying an additional 33 shares during the period. Marks Group Wealth Management Inc boosted its holdings in SBA Communications by 2.9% in the 1st quarter. Marks Group Wealth Management Inc now owns 1,176 shares of the technology company’s stock worth $405,000 after buying an additional 33 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in SBA Communications by 1.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock valued at $1,116,000 after purchasing an additional 34 shares during the period. 95.41% of the stock is owned by institutional investors.
About SBA Communications: (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.
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