SBA Communications (NASDAQ:SBAC) Upgraded by StockNews.com to Buy

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

A number of other equities analysts also recently commented on the company. Citigroup dropped their price objective on SBA Communications from $290.00 to $260.00 and set a buy rating on the stock in a report on Tuesday, April 30th. KeyCorp lifted their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the company an overweight rating in a research note on Tuesday, July 30th. Barclays lowered their target price on shares of SBA Communications from $240.00 to $236.00 and set an overweight rating on the stock in a research report on Tuesday, July 30th. BMO Capital Markets reduced their price target on SBA Communications from $250.00 to $245.00 and set an outperform rating for the company in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price objective on SBA Communications from $235.00 to $245.00 and gave the company an outperform rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $241.54.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $2.16 during mid-day trading on Thursday, hitting $216.93. The stock had a trading volume of 208,791 shares, compared to its average volume of 955,006. The company’s 50 day moving average is $204.72 and its 200-day moving average is $205.97. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The company has a market cap of $23.31 billion, a PE ratio of 42.11, a P/E/G ratio of 0.68 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.24 EPS. On average, equities research analysts predict that SBA Communications will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.81%. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Transactions at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Glassman Wealth Services grew its stake in shares of SBA Communications by 79.1% during the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the last quarter. Ridgewood Investments LLC bought a new position in SBA Communications in the 2nd quarter valued at $32,000. Quarry LP increased its stake in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares during the period. Family Firm Inc. bought a new stake in shares of SBA Communications during the second quarter worth $36,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of SBA Communications by 67.9% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company’s stock worth $57,000 after acquiring an additional 91 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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.