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

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

SBAC has been the subject of a number of other research reports. 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 report on Thursday, March 7th. Wells Fargo & Company reduced their price objective on SBA Communications from $260.00 to $230.00 and set an overweight rating for the company in a report on Tuesday, April 30th. StockNews.com cut SBA Communications from a buy rating to a hold rating in a report on Friday, June 28th. KeyCorp reduced their price objective on SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a report on Tuesday, April 30th. Finally, Barclays reduced their price objective on SBA Communications from $241.00 to $240.00 and set an overweight rating for the company in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of Moderate Buy and an average price target of $249.08.

SBA Communications Stock Performance

SBA Communications stock opened at $192.18 on Monday. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $20.65 billion, a P/E ratio of 37.68, a PEG ratio of 0.62 and a beta of 0.65. The stock has a 50-day simple moving average of $194.60 and a 200 day simple moving average of $212.79.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the company posted $3.13 earnings per share. SBA Communications’s quarterly revenue was down 2.6% on a year-over-year basis. Research analysts forecast that SBA Communications will post 12.51 earnings per share for the current year.

SBA Communications Dividend Announcement

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

Institutional Investors Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SBAC. CVA Family Office LLC acquired a new position in SBA Communications during the fourth quarter valued at approximately $37,000. Glassman Wealth Services lifted its stake in SBA Communications by 79.1% during the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP lifted its stake in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Quarry LP lifted its stake in SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.