SBA Communications (NASDAQ:SBAC) Downgraded by StockNews.com

StockNews.com lowered shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a research note published on Friday.

SBAC has been the topic of several other reports. Wells Fargo & Company cut their price target on shares of SBA Communications from $260.00 to $230.00 and set an overweight rating on the stock in a report on Tuesday, April 30th. TD Cowen decreased their price target on SBA Communications from $266.00 to $253.00 and set a buy rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada cut their price objective on SBA Communications from $250.00 to $235.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Barclays decreased their target price on SBA Communications from $241.00 to $240.00 and set an overweight rating for the company in a research report on Thursday, May 30th. Finally, Bank of America upgraded SBA Communications from a neutral rating to a buy rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of Buy and an average target price of $252.17.

SBA Communications Trading Down 0.3 %

Shares of SBAC stock opened at $196.30 on Friday. SBA Communications has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a market capitalization of $21.09 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65. The firm has a fifty day simple moving average of $194.93 and a 200-day simple moving average of $213.64.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $3.13 earnings per share. Equities research analysts predict that SBA Communications will post 12.51 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s payout ratio is currently 76.86%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $37,000. Glassman Wealth Services raised its stake in shares of SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after buying an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the period. Allworth Financial LP boosted its stake in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Finally, Quarry LP grew its holdings in SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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.