SBA Communications (NASDAQ:SBAC) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a report published on Friday morning.

A number of other equities analysts have also recently commented on the company. Barclays decreased their target price on SBA Communications from $241.00 to $240.00 and set an overweight rating on the stock in a report on Thursday, May 30th. KeyCorp decreased their target price on SBA Communications from $276.00 to $227.00 and set an overweight rating on the stock in a report on Tuesday, April 30th. Royal Bank of Canada decreased their target price on SBA Communications from $250.00 to $235.00 and set an outperform rating on the stock in a report on Thursday, May 9th. The Goldman Sachs Group began coverage on SBA Communications in a report on Monday, July 1st. They issued a neutral rating and a $212.00 target price on the stock. Finally, TD Cowen decreased their target price on SBA Communications from $266.00 to $253.00 and set a buy rating on the stock in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $248.31.

SBA Communications Price Performance

NASDAQ SBAC opened at $217.82 on Friday. The business’s fifty day moving average price is $197.93 and its 200-day moving average price is $206.91. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 0.69 and a beta of 0.65. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.17. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same period in the prior year, the firm earned $3.24 EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications will post 12.51 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.80%. SBA Communications’s payout ratio is 76.86%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the second quarter valued at about $32,000. Family Firm Inc. purchased a new position in SBA Communications in the second quarter worth about $36,000. CVA Family Office LLC purchased a new position in SBA Communications in the fourth quarter worth about $37,000. Glassman Wealth Services grew its position in SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

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.