SBA Communications (NASDAQ:SBAC) PT Raised to $240.00 at The Goldman Sachs Group

SBA Communications (NASDAQ:SBAC) had its target price increased by The Goldman Sachs Group from $212.00 to $240.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the company. Barclays decreased their target price on SBA Communications from $240.00 to $236.00 and set an overweight rating on the stock in a research note on Tuesday, July 30th. TD Cowen reduced their price target on SBA Communications from $253.00 to $251.00 and set a buy rating on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an outperform rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the company a neutral rating in a research note on Monday, September 23rd. Finally, BMO Capital Markets lowered their target price on SBA Communications from $250.00 to $245.00 and set an outperform rating for the company in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $244.08.

SBA Communications Stock Up 1.0 %

NASDAQ SBAC opened at $238.64 on Thursday. The business has a 50 day moving average price of $226.90 and a 200-day moving average price of $209.97. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The company has a market cap of $25.65 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. During the same period in the prior year, the firm posted $3.24 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that SBA Communications will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a $0.98 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.64%. SBA Communications’s dividend payout ratio is presently 76.86%.

Insider Buying and Selling

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,590 shares of company stock worth $11,483,981. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On SBA Communications

Several large investors have recently bought and sold shares of SBAC. Ridgewood Investments LLC acquired a new position in SBA Communications in the second quarter valued at $32,000. Family Firm Inc. purchased a new position in SBA Communications during the second quarter worth about $36,000. Quarry LP raised its holdings in SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in SBA Communications during the second quarter worth about $49,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after buying an additional 270 shares in the last quarter. Hedge funds and other 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.