Barclays Boosts SBA Communications (NASDAQ:SBAC) Price Target to $256.00

14 Oct 2024, 02:14 by Renee Jackson · The Cerbat Gem

SBA Communications (NASDAQ:SBAC – Free Report) had its target price upped by Barclays from $236.00 to $256.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

SBAC has been the topic of a number of other reports. KeyCorp upped their price objective on SBA Communications from $227.00 to $230.00 and gave the company an overweight rating in a report on Tuesday, July 30th. Morgan Stanley upped their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an overweight rating in a research report on Wednesday, September 18th. StockNews.com raised shares of SBA Communications from a hold rating to a buy rating in a research note on Friday, September 20th. JPMorgan Chase & Co. increased their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the stock a neutral rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on SBA Communications from $235.00 to $245.00 and gave the company an outperform rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $247.42.

Check Out Our Latest Analysis on SBA Communications

SBA Communications Stock Up 0.1 %

Shares of NASDAQ SBAC opened at $233.51 on Thursday. The firm has a 50-day simple moving average of $231.29 and a 200-day simple moving average of $211.39. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $25.10 billion, a price-to-earnings ratio of 49.26, a price-to-earnings-growth ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC – Get Free Report) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.24 earnings per share. As a group, equities research analysts expect that SBA Communications will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 82.70%.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is currently owned by insiders.

Institutional Trading of SBA Communications

Several large investors have recently bought and sold shares of SBAC. Ridgewood Investments LLC acquired a new stake in SBA Communications in the 2nd quarter valued at about $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the second quarter worth $36,000. Quarry LP boosted its position in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the period. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications in the second quarter valued at about $49,000. Finally, Versant Capital Management Inc lifted its position in SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

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