SBA Communications (NASDAQ:SBAC) PT Raised to $250.00

SBA Communications (NASDAQ:SBAC) had its price target boosted by Cowen from $203.00 to $250.00 in a research note released on Tuesday morning, The Fly reports. Cowen currently has an outperform rating on the technology company’s stock.

SBAC has been the topic of a number of other research reports. SunTrust Banks reaffirmed a buy rating and issued a $217.00 price objective on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. Raymond James cut shares of SBA Communications from an outperform rating to a market perform rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. ValuEngine raised shares of SBA Communications from a hold rating to a buy rating in a report on Wednesday, May 8th. New Street Research cut shares of SBA Communications from a buy rating to a neutral rating and set a $236.00 price objective on the stock. in a report on Thursday, June 13th. Finally, UBS Group cut shares of SBA Communications from a buy rating to a neutral rating and increased their price objective for the stock from $209.00 to $240.00 in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $227.15.

SBA Communications stock opened at $248.62 on Tuesday. The business has a 50-day simple moving average of $232.36. SBA Communications has a 1 year low of $146.13 and a 1 year high of $249.96. The company has a market cap of $27.79 billion, a P/E ratio of 30.37, a P/E/G ratio of 3.17 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The firm had revenue of $500.10 million during the quarter, compared to analyst estimates of $489.09 million. During the same period last year, the business earned ($0.50) EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that SBA Communications will post 7.83 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.48 annualized dividend and a yield of 0.60%.

In other SBA Communications news, Director Brian C. Carr sold 700 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $206.50, for a total transaction of $144,550.00. Following the transaction, the director now owns 2,590 shares of the company’s stock, valued at approximately $534,835. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kurt L. Bagwell sold 14,320 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $225.53, for a total transaction of $3,229,589.60. Following the transaction, the executive vice president now directly owns 58,375 shares in the company, valued at approximately $13,165,313.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,320 shares of company stock worth $13,010,971. 2.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in SBAC. Pinnacle Bank acquired a new position in SBA Communications during the 4th quarter valued at about $25,000. Spectrum Management Group Inc. acquired a new position in SBA Communications during the 1st quarter valued at about $27,000. Advisory Services Network LLC increased its stake in SBA Communications by 65.4% during the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after buying an additional 51 shares during the period. Berman Capital Advisors LLC increased its stake in SBA Communications by 103.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after buying an additional 79 shares during the period. Finally, Next Capital Management LLC acquired a new position in SBA Communications during the 2nd quarter valued at about $43,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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The Fly

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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