SBA Communications (NASDAQ:SBAC) PT Raised to $385.00

SBA Communications (NASDAQ:SBACGet Rating) had its price target upped by Deutsche Bank Aktiengesellschaft from $375.00 to $385.00 in a research note published on Tuesday, The Fly reports.

SBAC has been the topic of several other reports. StockNews.com cut SBA Communications from a buy rating to a hold rating in a research note on Friday, June 10th. Cowen upped their price target on SBA Communications from $373.00 to $382.00 in a research report on Tuesday, April 26th. Jefferies Financial Group cut their target price on SBA Communications from $383.00 to $347.00 and set a hold rating on the stock in a research report on Thursday, June 30th. KeyCorp cut their target price on SBA Communications from $393.00 to $367.00 and set an overweight rating on the stock in a research report on Friday, July 1st. Finally, Cowen increased their price target on SBA Communications from $373.00 to $382.00 in a research report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $385.88.

SBA Communications Trading Down 0.3 %

Shares of SBA Communications stock opened at $345.40 on Tuesday. The firm has a market capitalization of $37.24 billion, a PE ratio of 106.93 and a beta of 0.43. SBA Communications has a 12 month low of $286.41 and a 12 month high of $391.15. The business’s 50-day moving average price is $323.52 and its 200-day moving average price is $328.59.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $652.01 million for the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $2.64 EPS. As a group, analysts predict that SBA Communications will post 11.1 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be given a $0.71 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.82%. SBA Communications’s payout ratio is currently 87.93%.

Insider Buying and Selling at SBA Communications

In related news, Director Duncan Cocroft sold 1,152 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total transaction of $396,864.00. Following the completion of the sale, the director now directly owns 64,592 shares in the company, valued at $22,251,944. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Duncan Cocroft sold 1,152 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the sale, the director now owns 64,592 shares in the company, valued at approximately $22,251,944. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the transaction, the executive vice president now owns 23,884 shares in the company, valued at approximately $8,073,986.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,912 shares of company stock valued at $13,038,108. Company insiders own 1.80% of the company’s stock.

Institutional Trading of SBA Communications

A number of large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new stake in shares of SBA Communications in the 1st quarter valued at approximately $25,000. Riverview Trust Co bought a new position in SBA Communications in the first quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of SBA Communications during the second quarter valued at about $26,000. Curi Wealth Management LLC acquired a new position in shares of SBA Communications in the fourth quarter worth approximately $30,000. Finally, AdvisorNet Financial Inc increased its holdings in SBA Communications by 52.5% in the second quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after purchasing an additional 32 shares in the last quarter. 95.41% of the stock is owned by institutional investors.

SBA Communications Company Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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