SBA Communications Corporation (NASDAQ:SBAC) Given Average Recommendation of “Moderate Buy” by Brokerages

SBA Communications Corporation (NASDAQ:SBAC) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $237.00.

Several equities analysts have recently commented on the company. Royal Bank Of Canada decreased their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Morgan Stanley reduced their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. UBS Group decreased their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Williams Trading set a $237.00 target price on SBA Communications in a report on Tuesday, November 4th. Finally, Citigroup decreased their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. Quent Capital LLC bought a new position in shares of SBA Communications during the third quarter worth about $27,000. CVA Family Office LLC increased its position in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares during the period. Fulcrum Asset Management LLP bought a new position in SBA Communications during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its position in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. Finally, Stance Capital LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at $45,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC stock opened at $190.95 on Thursday. SBA Communications has a 52 week low of $185.13 and a 52 week high of $245.16. The company’s 50 day moving average price is $193.78 and its two-hundred day moving average price is $209.44. The company has a market capitalization of $20.35 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.21 by $0.09. The business had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.32 earnings per share. Analysts forecast that SBA Communications will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were issued a $1.11 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio is 57.89%.

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.