SBA Communications Co. (NASDAQ:SBAC) Receives $252.17 Average Target Price from Analysts

Shares of SBA Communications Co. (NASDAQ:SBACGet Free Report) have earned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $252.17.

Several equities analysts recently issued reports on the company. Citigroup dropped their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. 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 research note on Thursday, March 7th. BMO Capital Markets lowered their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, TD Cowen reduced their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th.

Read Our Latest Stock Report on SBA Communications

SBA Communications Trading Up 2.0 %

Shares of SBAC opened at $194.63 on Friday. The company’s 50 day simple moving average is $195.06 and its 200-day simple moving average is $215.64. SBA Communications has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market cap of $20.91 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. During the same period last year, the firm posted $3.13 EPS. SBA Communications’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities research analysts forecast that SBA Communications will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were issued a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.01%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Institutional Investors Weigh In On SBA Communications

A number of institutional investors and hedge funds have recently modified their holdings of SBAC. Atria Wealth Solutions Inc. purchased a new position in shares of SBA Communications in the third quarter valued at $422,000. Aviva PLC increased its holdings in SBA Communications by 40.5% during the 3rd quarter. Aviva PLC now owns 95,680 shares of the technology company’s stock valued at $19,152,000 after acquiring an additional 27,599 shares in the last quarter. Rafferty Asset Management LLC raised its position in SBA Communications by 5.2% during the third quarter. Rafferty Asset Management LLC now owns 12,109 shares of the technology company’s stock worth $2,424,000 after acquiring an additional 600 shares during the last quarter. QRG Capital Management Inc. acquired a new position in SBA Communications during the third quarter worth about $926,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of SBA Communications in the third quarter valued at about $2,951,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

About SBA Communications

(Get Free Report

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.

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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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