SBA Communications Co. (NASDAQ:SBAC) Given Consensus Rating of “Hold” by Analysts

Shares of SBA Communications Co. (NASDAQ:SBAC) have earned an average rating of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $234.08.

A number of brokerages recently issued reports on SBAC. SunTrust Banks raised their price target on SBA Communications to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Raymond James downgraded SBA Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 9th. Moffett Nathanson reiterated a “neutral” rating and issued a $246.00 target price on shares of SBA Communications in a research note on Monday, July 8th. Finally, ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th.

In other SBA Communications news, Director Jack Langer sold 5,301 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $261.91, for a total value of $1,388,384.91. Following the sale, the director now owns 50 shares in the company, valued at $13,095.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Brian D. Lazarus sold 20,676 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $261.00, for a total value of $5,396,436.00. Following the completion of the sale, the senior vice president now owns 17,829 shares in the company, valued at approximately $4,653,369. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,825 shares of company stock worth $25,054,792. Insiders own 2.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. CWM LLC boosted its position in SBA Communications by 17.7% during the second quarter. CWM LLC now owns 286 shares of the technology company’s stock valued at $64,000 after purchasing an additional 43 shares in the last quarter. Tealwood Asset Management Inc. boosted its position in SBA Communications by 0.5% during the second quarter. Tealwood Asset Management Inc. now owns 9,144 shares of the technology company’s stock valued at $2,056,000 after purchasing an additional 46 shares in the last quarter. NEXT Financial Group Inc boosted its position in SBA Communications by 22.7% during the second quarter. NEXT Financial Group Inc now owns 276 shares of the technology company’s stock valued at $62,000 after purchasing an additional 51 shares in the last quarter. Advisory Services Network LLC boosted its position in SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in SBA Communications by 5.6% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,025 shares of the technology company’s stock valued at $230,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.

SBAC traded up $0.27 during trading on Friday, reaching $260.80. The company had a trading volume of 598,779 shares, compared to its average volume of 608,683. The stock has a market cap of $29.47 billion, a P/E ratio of 34.32, a PEG ratio of 3.33 and a beta of 0.69. The business has a 50 day simple moving average of $243.58 and a 200-day simple moving average of $212.92. SBA Communications has a 52 week low of $146.13 and a 52 week high of $263.91.

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

The firm 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 $0.37 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $1.48 dividend on an annualized basis and a yield of 0.57%.

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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Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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