SBA Communications (NASDAQ:SBAC) Price Target Raised to $300.00 at Raymond James

SBA Communications (NASDAQ:SBAC) had its price target hoisted by Raymond James from $285.00 to $300.00 in a research note issued to investors on Tuesday, Benzinga reports. Raymond James currently has a strong-buy rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Barclays upped their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. 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 company’s stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Price Performance

Shares of SBAC opened at $225.59 on Tuesday. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s fifty day moving average price is $237.96 and its 200 day moving average price is $214.45. The stock has a market capitalization of $24.24 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $3.34 earnings per share. As a group, research analysts anticipate that SBA Communications will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. 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 payout ratio is 61.83%.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This 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 insiders.

Hedge Funds Weigh In On SBA Communications

Hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in SBA Communications in the 2nd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the third quarter worth about $35,000. Family Firm Inc. purchased a new position in shares of SBA Communications in the second quarter worth approximately $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the second quarter valued at approximately $49,000. Finally, Friedenthal Financial purchased a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $50,000. 97.35% of the stock is currently 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.