SBA Communications (NASDAQ:SBAC) Receives Market Perform Rating from BMO Capital Markets

BMO Capital Markets restated their market perform rating on shares of SBA Communications (NASDAQ:SBAC) in a research note released on Wednesday morning, Marketbeat reports. They currently have a $230.00 price objective on the technology company’s stock, down from their prior price objective of $260.00.

Several other research analysts have also weighed in on SBAC. KeyCorp increased their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen upped their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Barclays lifted their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.92.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $201.06 on Wednesday. The firm has a market cap of $21.62 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. SBA Communications has a 1 year low of $183.64 and a 1 year high of $256.68. The firm’s 50 day moving average price is $226.97 and its 200 day moving average price is $220.39.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the business earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.95%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of SBA Communications

Large investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the third quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of SBA Communications during the second quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the third quarter worth $35,000. Family Firm Inc. acquired a new stake in SBA Communications in the second quarter valued at $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in SBA Communications in the second quarter valued at $49,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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.