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.
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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