SBA Communications (NASDAQ:SBAC) Cut to Hold at StockNews.com

StockNews.com cut shares of SBA Communications (NASDAQ:SBAC) from a buy rating to a hold rating in a report released on Wednesday morning.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Raymond James lifted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Performance

Shares of SBAC stock opened at $225.59 on Wednesday. The stock has a market capitalization of $24.24 billion, a P/E ratio of 35.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67. The company has a 50 day moving average price of $237.96 and a 200 day moving average price of $214.45. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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 business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. On average, research analysts forecast that SBA Communications will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.74%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth $32,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications in the 3rd quarter worth about $35,000. Family Firm Inc. purchased a new stake in shares of SBA Communications in the 2nd quarter worth about $36,000. Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications in the 2nd quarter worth about $49,000. Finally, Friedenthal Financial purchased a new stake in shares of SBA Communications in the 3rd quarter worth about $50,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Company Profile

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.