Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, December 6th.
Other research analysts have also recently issued research reports about the company. TheStreet cut Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.00.
Shenandoah Telecommunications (SHEN) opened at $34.83 on Wednesday. Shenandoah Telecommunications has a 12 month low of $25.35 and a 12 month high of $41.80. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $1,743.97, a P/E ratio of 141.60 and a beta of 0.67.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $151.80 million for the quarter, compared to analysts’ expectations of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) EPS. research analysts forecast that Shenandoah Telecommunications will post 0.16 earnings per share for the current fiscal year.
In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $38.93, for a total transaction of $1,790,780.00. Following the completion of the transaction, the insider now owns 118,047 shares of the company’s stock, valued at $4,595,569.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.24% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its holdings in Shenandoah Telecommunications by 2.4% in the first quarter. Teachers Advisors LLC now owns 79,229 shares of the utilities provider’s stock worth $2,222,000 after purchasing an additional 1,830 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Shenandoah Telecommunications by 4.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 209,274 shares of the utilities provider’s stock worth $6,425,000 after purchasing an additional 8,902 shares during the last quarter. Legal & General Group Plc boosted its holdings in Shenandoah Telecommunications by 4.9% in the second quarter. Legal & General Group Plc now owns 19,232 shares of the utilities provider’s stock worth $590,000 after purchasing an additional 902 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Shenandoah Telecommunications by 790.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 4,901 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its stake in shares of Shenandoah Telecommunications by 5.5% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after acquiring an additional 300 shares during the last quarter. 52.64% of the stock is owned by institutional investors.
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About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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