SBA Communications Co. (NASDAQ:SBAC) EVP Kurt L. Bagwell sold 17,055 shares of SBA Communications stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $254.72, for a total value of $4,344,249.60. Following the sale, the executive vice president now owns 57,573 shares of the company’s stock, valued at approximately $14,664,994.56. The transaction was disclosed in a document filed with the SEC, which is available at this link.
SBAC opened at $259.85 on Friday. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69. The business has a 50-day moving average of $238.29 and a two-hundred day moving average of $210.33. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $260.64.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing the consensus estimate of $1.86 by ($1.58). The business had revenue of $500.10 million during the quarter, compared to analysts’ expectations of $489.09 million. SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) EPS. Equities research analysts predict that SBA Communications Co. will post 7.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, August 27th.
SBAC has been the subject of a number of recent research reports. TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a research report on Monday, July 29th. Cowen lifted their price objective on SBA Communications from $203.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 9th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Bank of America reiterated a “neutral” rating and set a $260.00 price objective (up previously from $245.00) on shares of SBA Communications in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $228.31.
A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Spectrum Management Group Inc. purchased a new stake in SBA Communications in the 1st quarter valued at about $27,000. Advisory Services Network LLC lifted its stake in shares of SBA Communications by 65.4% in the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $29,000. Certified Advisory Corp acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $31,000. Finally, Berman Capital Advisors LLC lifted its stake in shares of SBA Communications by 103.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 94.07% of the company’s stock.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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