SBA Communications (NASDAQ:SBAC) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of SBA Communications (NASDAQ:SBAC) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $212.00 target price on the technology company’s stock.

A number of other equities analysts have also commented on the company. KeyCorp cut their price target on SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a report on Tuesday, April 30th. StockNews.com downgraded SBA Communications from a buy rating to a hold rating in a research report on Friday, June 28th. Barclays lowered their price objective on SBA Communications from $241.00 to $240.00 and set an overweight rating on the stock in a research report on Thursday, May 30th. Citigroup lowered their price objective on SBA Communications from $290.00 to $260.00 and set a buy rating on the stock in a research report on Tuesday, April 30th. Finally, Bank of America upgraded SBA Communications from a neutral rating to a buy rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $249.08.

SBA Communications Price Performance

SBA Communications stock opened at $192.18 on Monday. SBA Communications has a one year low of $183.64 and a one year high of $258.76. The business has a fifty day moving average price of $194.47 and a 200-day moving average price of $212.65. The firm has a market capitalization of $20.65 billion, a P/E ratio of 37.68, a PEG ratio of 0.60 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period last year, the company earned $3.13 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Sell-side analysts expect that SBA Communications will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.04%. SBA Communications’s payout ratio is 76.86%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of SBA Communications by 31.8% in the second quarter. GAMMA Investing LLC now owns 792 shares of the technology company’s stock worth $155,000 after buying an additional 191 shares during the period. Clear Rock Advisors LLC increased its holdings in shares of SBA Communications by 6.0% in the first quarter. Clear Rock Advisors LLC now owns 7,944 shares of the technology company’s stock worth $1,721,000 after buying an additional 453 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of SBA Communications by 2.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 23,266 shares of the technology company’s stock worth $5,015,000 after buying an additional 453 shares during the period. Cetera Advisors LLC increased its holdings in shares of SBA Communications by 41.8% in the first quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock worth $362,000 after buying an additional 492 shares during the period. Finally, Cetera Investment Advisers increased its holdings in shares of SBA Communications by 228.1% in the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after buying an additional 7,226 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

About SBA Communications

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.