SBA Communications (NASDAQ:SBAC) Price Target Raised to $408.00 at Credit Suisse Group

SBA Communications (NASDAQ:SBACGet Rating) had its price objective increased by Credit Suisse Group from $405.00 to $408.00 in a report issued on Tuesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities analysts have also weighed in on the company. Cowen increased their target price on SBA Communications from $373.00 to $382.00 in a research note on Tuesday, April 26th. Raymond James increased their target price on SBA Communications from $385.00 to $410.00 and gave the company a strong-buy rating in a research note on Tuesday, April 26th. UBS Group increased their target price on SBA Communications from $400.00 to $410.00 and gave the company a buy rating in a research note on Tuesday. Wells Fargo & Company cut their target price on SBA Communications from $390.00 to $355.00 and set an overweight rating on the stock in a research note on Tuesday, July 19th. Finally, Moffett Nathanson downgraded SBA Communications from a buy rating to a neutral rating and lowered their price target for the stock from $393.00 to $380.00 in a report on Monday, April 11th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $385.88.

SBA Communications Stock Down 0.3 %

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

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

SBA Communications Announces Dividend

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

Insider Activity

In other news, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the sale, the chief executive officer now directly owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Mark R. Ciarfella sold 5,760 shares of SBA Communications stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $343.94, for a total transaction of $1,981,094.40. Following the completion of the sale, the executive vice president now directly owns 23,884 shares of the company’s stock, valued at approximately $8,214,662.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Stoops sold 30,000 shares of SBA Communications stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the sale, the chief executive officer now directly owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The disclosure for this sale can be found here. Insiders sold a total of 37,912 shares of company stock valued at $13,038,108 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of SBA Communications

Several hedge funds have recently added to or reduced their stakes in SBAC. Nissay Asset Management Corp Japan ADV increased its stake in SBA Communications by 2.8% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,149 shares of the technology company’s stock worth $4,337,000 after acquiring an additional 303 shares during the period. IFM Investors Pty Ltd increased its stake in shares of SBA Communications by 118.7% in the 1st quarter. IFM Investors Pty Ltd now owns 31,029 shares of the technology company’s stock valued at $10,677,000 after purchasing an additional 16,839 shares during the last quarter. Chartwell Investment Partners LLC bought a new position in shares of SBA Communications in the 4th quarter valued at $1,958,000. Mutual of America Capital Management LLC increased its stake in shares of SBA Communications by 8.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 15,588 shares of the technology company’s stock valued at $5,364,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in SBA Communications during the 4th quarter worth $249,000. 95.41% of the stock is owned by institutional investors and hedge funds.

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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