Wall Street analysts forecast that Shenandoah Telecommunications (NASDAQ:SHEN) will report sales of $154.19 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Shenandoah Telecommunications’ earnings, with estimates ranging from $153.67 million to $154.71 million. Shenandoah Telecommunications reported sales of $155.57 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.9%. The company is expected to issue its next earnings results on Monday, March 19th.
According to Zacks, analysts expect that Shenandoah Telecommunications will report full year sales of $154.19 million for the current fiscal year, with estimates ranging from $612.59 million to $613.63 million. For the next year, analysts expect that the business will report sales of $635.42 million per share, with estimates ranging from $632.92 million to $637.91 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Shenandoah Telecommunications.
Several research firms recently commented on SHEN. Zacks Investment Research downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, January 27th. BidaskClub raised shares of Shenandoah Telecommunications from a “strong sell” rating to a “sell” rating in a report on Thursday, January 25th. BWS Financial set a $50.00 price objective on shares of Shenandoah Telecommunications and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, TheStreet downgraded shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Shenandoah Telecommunications has a consensus rating of “Hold” and an average target price of $50.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHEN. The Manufacturers Life Insurance Company boosted its holdings in Shenandoah Telecommunications by 1,399.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock worth $16,510,000 after buying an additional 501,920 shares during the period. Mawer Investment Management Ltd. boosted its holdings in Shenandoah Telecommunications by 20.5% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,010,069 shares of the utilities provider’s stock valued at $37,575,000 after purchasing an additional 171,670 shares during the period. First Trust Advisors LP boosted its holdings in Shenandoah Telecommunications by 752.4% in the 4th quarter. First Trust Advisors LP now owns 86,725 shares of the utilities provider’s stock valued at $2,931,000 after purchasing an additional 76,551 shares during the period. Renaissance Technologies LLC boosted its holdings in Shenandoah Telecommunications by 6.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,125,600 shares of the utilities provider’s stock valued at $38,045,000 after purchasing an additional 68,800 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Shenandoah Telecommunications by 136.8% in the 4th quarter. Deutsche Bank AG now owns 107,274 shares of the utilities provider’s stock valued at $3,625,000 after purchasing an additional 61,966 shares during the period. 48.42% of the stock is owned by institutional investors.
Shenandoah Telecommunications (NASDAQ:SHEN) traded up $0.60 on Friday, reaching $32.85. 81,502 shares of the company traded hands, compared to its average volume of 112,824. The company has a market cap of $1,620.00, a P/E ratio of 298.64 and a beta of 0.72. Shenandoah Telecommunications has a 52 week low of $25.50 and a 52 week high of $41.80. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.34.
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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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