SBAC has been the topic of a number of other research reports. Moffett Nathanson restated a neutral rating and set a $246.00 price objective on shares of SBA Communications in a research note on Monday, July 8th. JPMorgan Chase & Co. cut SBA Communications from an overweight rating to a neutral rating and boosted their price target for the stock from $220.00 to $270.00 in a research note on Thursday, August 1st. Morgan Stanley cut SBA Communications from an overweight rating to an equal rating and boosted their price target for the stock from $222.00 to $249.00 in a research note on Thursday, September 19th. BidaskClub upgraded SBA Communications from a hold rating to a buy rating in a research note on Wednesday, September 25th. Finally, SunTrust Banks upped their price objective on SBA Communications to $255.00 and gave the company a buy rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $238.92.
Shares of NASDAQ SBAC traded down $1.35 during trading on Friday, reaching $241.47. The company had a trading volume of 445,321 shares, compared to its average volume of 742,424. The stock has a market capitalization of $26.99 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65. SBA Communications has a twelve month low of $146.13 and a twelve month high of $270.42. The stock has a 50-day moving average price of $250.80 and a two-hundred day moving average price of $228.52.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $489.09 million. During the same period last year, the firm posted ($0.50) EPS. SBA Communications’s revenue was up 9.6% on a year-over-year basis. Equities research analysts expect that SBA Communications will post 7.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, August 27th. SBA Communications’s dividend payout ratio (DPR) is 19.47%.
In other news, Director George R. Krouse, Jr. sold 2,087 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $247.51, for a total value of $516,553.37. Following the completion of the sale, the director now owns 10,950 shares in the company, valued at $2,710,234.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brendan Thomas Cavanagh sold 54,411 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $268.07, for a total value of $14,585,956.77. Following the completion of the sale, the chief financial officer now owns 98,751 shares of the company’s stock, valued at approximately $26,472,180.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,616 shares of company stock valued at $26,774,328. 2.50% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of SBA Communications by 5.0% in the second quarter. BlackRock Inc. now owns 10,196,949 shares of the technology company’s stock valued at $2,292,683,000 after buying an additional 486,674 shares during the period. Cohen & Steers Inc. lifted its stake in SBA Communications by 28.0% during the second quarter. Cohen & Steers Inc. now owns 4,522,092 shares of the technology company’s stock worth $1,016,747,000 after purchasing an additional 990,368 shares during the period. Canada Pension Plan Investment Board lifted its stake in SBA Communications by 6.5% during the second quarter. Canada Pension Plan Investment Board now owns 2,164,605 shares of the technology company’s stock worth $486,690,000 after purchasing an additional 132,509 shares during the period. Northern Trust Corp lifted its stake in SBA Communications by 2.9% during the second quarter. Northern Trust Corp now owns 1,274,909 shares of the technology company’s stock worth $286,650,000 after purchasing an additional 35,929 shares during the period. Finally, FMR LLC lifted its stake in SBA Communications by 3,456.5% during the first quarter. FMR LLC now owns 1,245,173 shares of the technology company’s stock worth $248,612,000 after purchasing an additional 1,210,162 shares during the period. 93.29% of the stock is currently owned by 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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