SBA Communications Corporation (NASDAQ:SBAC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of SBA Communications Corporation (NASDAQ:SBAC) have been given a consensus rating of “Moderate Buy” by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $249.0667.

Several brokerages recently weighed in on SBAC. Citigroup reiterated an “outperform” rating on shares of SBA Communications in a research report on Tuesday, August 5th. Royal Bank Of Canada cut their price target on SBA Communications from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Wells Fargo & Company raised their price objective on SBA Communications from $225.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 5th. Morgan Stanley raised their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 22nd. Finally, UBS Group raised their price target on SBA Communications from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SBAC. Independence Bank of Kentucky acquired a new position in SBA Communications in the 1st quarter valued at $28,000. CVA Family Office LLC boosted its position in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares during the period. Stone House Investment Management LLC purchased a new stake in SBA Communications during the 1st quarter worth $33,000. Allworth Financial LP boosted its position in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock worth $36,000 after purchasing an additional 62 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBA Communications stock opened at $189.10 on Friday. The business’s 50-day simple moving average is $204.53 and its two-hundred day simple moving average is $220.57. The company has a market cap of $20.31 billion, a PE ratio of 24.03, a PEG ratio of 1.97 and a beta of 0.82. SBA Communications has a fifty-two week low of $185.70 and a fifty-two week high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The company had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. During the same quarter in the prior year, the firm posted $3.29 EPS. SBA Communications’s quarterly revenue was up 5.8% compared to the same quarter last year. SBA Communications has set its FY 2025 guidance at EPS. As a group, analysts predict that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $4.44 annualized dividend and a dividend yield of 2.3%. SBA Communications’s payout ratio is 56.42%.

About SBA Communications

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.