SBA Communications (SBAC) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of SBA Communications (NASDAQ: SBAC) in the last few weeks:

  • 8/3/2022 – SBA Communications had its price target raised by analysts at KeyCorp from $367.00 to $389.00. They now have an “overweight” rating on the stock.
  • 8/2/2022 – SBA Communications had its price target raised by analysts at Credit Suisse Group AG from $405.00 to $408.00. They now have an “outperform” rating on the stock.
  • 8/2/2022 – SBA Communications had its price target raised by analysts at UBS Group AG from $400.00 to $410.00. They now have a “buy” rating on the stock.
  • 8/2/2022 – SBA Communications had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $375.00 to $385.00.
  • 7/20/2022 – SBA Communications had its price target lowered by analysts at Morgan Stanley from $389.00 to $361.00. They now have an “overweight” rating on the stock.
  • 7/19/2022 – SBA Communications had its price target lowered by analysts at Wells Fargo & Company from $390.00 to $355.00. They now have an “overweight” rating on the stock.
  • 7/12/2022 – SBA Communications had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $424.00 to $381.00. They now have a “buy” rating on the stock.
  • 7/1/2022 – SBA Communications had its price target lowered by analysts at KeyCorp from $393.00 to $367.00. They now have an “overweight” rating on the stock.
  • 6/30/2022 – SBA Communications had its price target lowered by analysts at Jefferies Financial Group Inc. from $383.00 to $347.00. They now have a “hold” rating on the stock.
  • 6/10/2022 – SBA Communications was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 6/7/2022 – SBA Communications had its price target lowered by analysts at Morgan Stanley from $412.00 to $389.00. They now have an “overweight” rating on the stock.

SBA Communications Price Performance

SBAC opened at $343.87 on Thursday. The stock has a 50-day moving average price of $323.40 and a 200-day moving average price of $328.31. The firm has a market cap of $37.08 billion, a PE ratio of 106.46 and a beta of 0.43. SBA Communications Co. has a 1 year low of $286.41 and a 1 year high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last posted 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 negative return on equity of 6.79% and a net margin of 14.45%. The company had revenue of $652.01 million during the quarter, compared to analysts’ expectations of $626.30 million. During the same period in the prior year, the firm earned $2.64 EPS. SBA Communications’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that SBA Communications Co. will post 11.08 EPS for the current year.

SBA Communications Dividend Announcement

The company 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 dividend of $0.71 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.83%. SBA Communications’s dividend payout ratio is currently 87.93%.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the completion of the transaction, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the completion of the transaction, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total value of $10,322,100.00. Following the transaction, the chief executive officer now owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PFG Advisors lifted its holdings in SBA Communications by 1.2% in the 1st quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after purchasing an additional 30 shares in the last quarter. Signaturefd LLC raised its holdings in shares of SBA Communications by 6.0% during the 1st quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock worth $188,000 after acquiring an additional 31 shares in the last quarter. Great Diamond Partners LLC raised its holdings in shares of SBA Communications by 2.9% during the 2nd quarter. Great Diamond Partners LLC now owns 1,084 shares of the technology company’s stock worth $346,000 after acquiring an additional 31 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in shares of SBA Communications by 52.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after acquiring an additional 32 shares in the last quarter. Finally, Hotaling Investment Management LLC raised its holdings in shares of SBA Communications by 4.9% during the 1st quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after acquiring an additional 33 shares in the last quarter. 95.41% of the stock is owned by hedge funds and other institutional investors.

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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