SBA Communications (NASDAQ:SBAC) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of SBA Communications (NASDAQ:SBAC) in a report published on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $212.00 price target on the technology company’s stock.

A number of other research firms have also recently issued reports on SBAC. Wells Fargo & Company lowered their price objective on SBA Communications from $260.00 to $230.00 and set an overweight rating on the stock in a research report on Tuesday, April 30th. KeyCorp lowered their price objective on SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a research report on Tuesday, April 30th. 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 report on Thursday, March 7th. Citigroup lowered their price objective on SBA Communications from $290.00 to $260.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Finally, StockNews.com lowered SBA Communications from a buy rating to a hold rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of Moderate Buy and an average price target of $249.08.

SBA Communications Stock Up 1.7 %

Shares of NASDAQ SBAC opened at $192.18 on Monday. The business’s 50 day moving average is $194.47 and its two-hundred day moving average is $212.65. The company has a market cap of $20.65 billion, a P/E ratio of 37.68, a P/E/G ratio of 0.60 and a beta of 0.65. SBA Communications has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million for 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 for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.13 EPS. Sell-side analysts expect that SBA Communications will post 12.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Mariner LLC raised its position in shares of SBA Communications by 3.4% during the third quarter. Mariner LLC now owns 6,845 shares of the technology company’s stock worth $1,370,000 after acquiring an additional 223 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of SBA Communications by 133.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 5,131 shares of the technology company’s stock worth $1,027,000 after acquiring an additional 2,933 shares during the last quarter. Bank of Nova Scotia raised its position in shares of SBA Communications by 14.9% during the third quarter. Bank of Nova Scotia now owns 10,312 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 1,335 shares during the last quarter. AQR Capital Management LLC raised its position in shares of SBA Communications by 166.4% during the third quarter. AQR Capital Management LLC now owns 63,427 shares of the technology company’s stock worth $12,696,000 after acquiring an additional 39,621 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of SBA Communications by 11.3% during the third quarter. Glenmede Trust Co. NA now owns 1,228 shares of the technology company’s stock worth $246,000 after acquiring an additional 125 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.