SBA Communications (NASDAQ:SBAC) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of SBA Communications (NASDAQ:SBAC) from a hold rating to a buy rating in a research report released on Friday morning.

SBAC has been the topic of a number of other reports. Wells Fargo & Company downgraded shares of SBA Communications from an overweight rating to an equal weight rating and lowered their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. Citigroup decreased their target price on shares of SBA Communications from $290.00 to $260.00 and set a buy rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Monday, July 1st. They issued a neutral rating and a $212.00 target price for the company. Royal Bank of Canada decreased their target price on shares of SBA Communications from $250.00 to $235.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Finally, KeyCorp reduced their price objective on shares of SBA Communications from $276.00 to $227.00 and set an overweight rating for the company in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $248.31.

SBA Communications Stock Up 1.7 %

Shares of SBA Communications stock opened at $214.71 on Friday. The firm has a market cap of $23.07 billion, a price-to-earnings ratio of 42.10, a price-to-earnings-growth ratio of 0.67 and a beta of 0.65. The business has a fifty day simple moving average of $197.54 and a 200-day simple moving average of $207.58. SBA Communications has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

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

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Institutional Investors Weigh In On SBA Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Legacy Trust bought a new stake in SBA Communications in the 4th quarter valued at $3,256,000. SG Americas Securities LLC increased its holdings in SBA Communications by 191.3% in the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after buying an additional 16,962 shares during the period. Franklin Resources Inc. increased its holdings in SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after buying an additional 19,462 shares during the period. Nomura Holdings Inc. bought a new stake in SBA Communications in the 4th quarter valued at $7,422,000. Finally, Wellington Management Group LLP grew its holdings in shares of SBA Communications by 596.2% in the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock worth $57,113,000 after purchasing an additional 192,791 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Company Profile

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.