Shares of SBA Communications Co. (NASDAQ:SBAC) have been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $251.33.
A number of analysts have recently weighed in on the company. BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. TheStreet downgraded shares of SBA Communications from a “b-” rating to a “c” rating in a research note on Monday, October 28th. Morgan Stanley downgraded shares of SBA Communications from an “overweight” rating to an “equal” rating and boosted their target price for the stock from $222.00 to $249.00 in a research note on Thursday, September 19th. Goldman Sachs Group upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $214.00 to $280.00 in a research note on Monday. Finally, Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 target price for the company in a research note on Saturday, November 2nd.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBAC. MML Investors Services LLC boosted its stake in SBA Communications by 43.8% in the second quarter. MML Investors Services LLC now owns 2,200 shares of the technology company’s stock valued at $495,000 after acquiring an additional 670 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in SBA Communications by 7.0% in the second quarter. Asset Management One Co. Ltd. now owns 58,796 shares of the technology company’s stock valued at $13,220,000 after acquiring an additional 3,844 shares in the last quarter. National Pension Service boosted its stake in SBA Communications by 18.7% in the second quarter. National Pension Service now owns 157,407 shares of the technology company’s stock valued at $35,391,000 after acquiring an additional 24,748 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in SBA Communications in the second quarter valued at $607,000. Finally, ETF Managers Group LLC boosted its stake in SBA Communications by 14.7% in the second quarter. ETF Managers Group LLC now owns 959 shares of the technology company’s stock valued at $216,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 93.63% of the company’s stock.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.78). SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The company had revenue of $486.60 million for the quarter, compared to analysts’ expectations of $497.48 million. During the same period in the prior year, the company posted $1.92 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts expect that SBA Communications will post 7.82 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, November 21st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.60%. SBA Communications’s payout ratio is currently 19.47%.
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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