SBA Communications Corporation (NASDAQ:SBAC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

SBA Communications Corporation (NASDAQ:SBAC) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $237.00.

Several equities research analysts have weighed in on the company. Barclays cut their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. The Goldman Sachs Group dropped their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, October 1st. KeyCorp reduced their price target on SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Royal Bank Of Canada decreased their price target on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Finally, Wells Fargo & Company lowered their price objective on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th.

Institutional Investors Weigh In On SBA Communications

Hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC grew its position in shares of SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after acquiring an additional 110 shares during the period. Quent Capital LLC purchased a new position in SBA Communications during the third quarter worth approximately $27,000. CVA Family Office LLC grew its holdings in SBA Communications by 106.3% in the second 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 acquired a new stake in SBA Communications in the third quarter valued at approximately $32,000. Finally, Geneos Wealth Management Inc. increased its position in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Down 0.1%

Shares of NASDAQ SBAC opened at $181.20 on Monday. The company has a 50 day simple moving average of $192.49 and a two-hundred day simple moving average of $204.61. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 1.60 and a beta of 0.87. SBA Communications has a 12 month low of $179.89 and a 12 month high of $245.16.

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

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders 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 yield of 2.5%. SBA Communications’s payout ratio is presently 57.89%.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.