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 research report released on Friday.

Other equities research analysts have also issued research reports about the company. Barclays dropped their price target on SBA Communications from $240.00 to $236.00 and set an overweight rating on the stock in a research note on Tuesday, July 30th. KeyCorp boosted their price target on SBA Communications from $227.00 to $230.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Wells Fargo & Company lowered SBA Communications from an overweight rating to an equal weight rating and dropped their price target for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Finally, The Goldman Sachs Group started coverage on SBA Communications in a research note on Monday, July 1st. They set a neutral rating and a $212.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $240.00.

SBA Communications Price Performance

SBAC stock opened at $239.47 on Friday. The business has a 50-day moving average price of $224.12 and a 200 day moving average price of $209.19. SBA Communications has a 1-year low of $183.64 and a 1-year high of $258.76. The company has a market capitalization of $25.73 billion, a P/E ratio of 46.95, a PEG ratio of 0.75 and a beta of 0.67.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Quarry LP raised its stake in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the period. Family Firm Inc. purchased a new stake in shares of SBA Communications during the second quarter worth approximately $36,000. Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications during the second quarter worth approximately $49,000. Finally, Versant Capital Management Inc increased its position in shares of SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares in the last quarter. 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.