Analysts Set SBA Communications Co. (NASDAQ:SBAC) Target Price at $254.92

SBA Communications Co. (NASDAQ:SBAC) has earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $254.92.

A number of analysts have commented on SBAC shares. The Goldman Sachs Group boosted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. TD Cowen raised their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Morgan Stanley increased their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On SBA Communications

Several institutional investors have recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the third quarter worth $35,000. Friedenthal Financial bought a new position in shares of SBA Communications in the third quarter worth $50,000. Farther Finance Advisors LLC grew its position in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of SBA Communications during the 3rd quarter valued at $58,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Up 2.0 %

Shares of NASDAQ SBAC opened at $199.71 on Thursday. SBA Communications has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market cap of $21.47 billion, a PE ratio of 31.50, a P/E/G ratio of 0.72 and a beta of 0.69. The company’s fifty day simple moving average is $215.08 and its 200 day simple moving average is $221.17.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $3.34 earnings per share. On average, equities analysts predict that SBA Communications will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.96%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

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.