Shares of SBA Communications Co. (NASDAQ:SBAC – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $290.00 to $260.00. Citigroup currently has a buy rating on the stock. SBA Communications traded as low as $183.64 and last traded at $184.75, with a volume of 146958 shares traded. The stock had previously closed at $186.12.
A number of other research firms also recently issued reports on SBAC. Wells Fargo & Company decreased their price target on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. KeyCorp decreased 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. Barclays dropped their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, TD Cowen cut their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $258.23.
Read Our Latest Report on SBAC
Insider Transactions at SBA Communications
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC purchased a new position in shares of SBA Communications during the third quarter valued at $212,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of SBA Communications by 12.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,618 shares of the technology company’s stock valued at $3,927,000 after purchasing an additional 2,100 shares in the last quarter. Xponance Inc. raised its holdings in shares of SBA Communications by 4.0% in the 3rd quarter. Xponance Inc. now owns 15,499 shares of the technology company’s stock valued at $3,102,000 after purchasing an additional 600 shares in the last quarter. Raymond James & Associates lifted its position in shares of SBA Communications by 23.3% in the 3rd quarter. Raymond James & Associates now owns 90,188 shares of the technology company’s stock worth $18,053,000 after purchasing an additional 17,048 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of SBA Communications by 18.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 13,027 shares of the technology company’s stock valued at $2,608,000 after purchasing an additional 2,072 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.
SBA Communications Price Performance
The company’s fifty day moving average is $209.12 and its 200-day moving average is $222.52. The company has a market capitalization of $20.45 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 1.24 and a beta of 0.56.
SBA Communications (NASDAQ:SBAC – Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The business 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 10.79% and a net margin of 20.61%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business posted $3.13 EPS. Equities research analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.
SBA Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is currently 76.86%.
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.
Featured Stories
- Five stocks we like better than SBA Communications
- How to Use Stock Screeners to Find Stocks
- AMD is Down 35%. Now is the Time to Buy the Dip
- 3 Warren Buffett Stocks to Buy Now
- Amazon Stands Tall: New Highs Are in Sight
- Overbought Stocks Explained: Should You Trade Them?
- Chesapeake Energy Stock is The Energy Play, Earnings Confirm
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.