ValuEngine Lowers Shentel (NASDAQ:SHEN) to Hold

ValuEngine cut shares of Shentel (NASDAQ:SHEN) from a buy rating to a hold rating in a research note issued to investors on Wednesday, May 9th.

Several other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Shentel from a buy rating to a hold rating in a research report on Tuesday, May 8th. Raymond James cut shares of Shentel from an outperform rating to a market perform rating in a research report on Friday, May 4th. BWS Financial reissued a buy rating on shares of Shentel in a research report on Wednesday, April 11th. Zacks Investment Research raised shares of Shentel from a sell rating to a strong-buy rating and set a $44.00 price target for the company in a research report on Thursday, March 22nd. Finally, TheStreet raised shares of Shentel from a c rating to a b rating in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $47.00.

NASDAQ:SHEN opened at $31.25 on Wednesday. Shentel has a 12 month low of $30.40 and a 12 month high of $31.15. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.39 and a quick ratio of 1.33. The stock has a market capitalization of $1.54 billion, a PE ratio of 100.32 and a beta of 0.66.

Shentel (NASDAQ:SHEN) last posted its earnings results on Thursday, May 3rd. The utilities provider reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). Shentel had a return on equity of 4.56% and a net margin of 11.32%. The company had revenue of $151.73 million during the quarter, compared to analysts’ expectations of $152.69 million. research analysts forecast that Shentel will post 0.41 earnings per share for the current year.

In related news, VP Raymond B. Ostroski sold 10,000 shares of Shentel stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $36.77, for a total transaction of $367,700.00. Following the completion of the transaction, the vice president now directly owns 42,314 shares of the company’s stock, valued at approximately $1,555,885.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ken L. Burch sold 1,000 shares of Shentel stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $36.30, for a total transaction of $36,300.00. Following the transaction, the director now directly owns 441,315 shares of the company’s stock, valued at $16,019,734.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,070 shares of company stock valued at $769,859. 6.84% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in SHEN. Wells Fargo & Company MN grew its stake in shares of Shentel by 28.1% in the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock worth $3,196,000 after acquiring an additional 18,862 shares during the period. California Public Employees Retirement System grew its stake in shares of Shentel by 8.8% in the third quarter. California Public Employees Retirement System now owns 102,037 shares of the utilities provider’s stock worth $3,796,000 after acquiring an additional 8,237 shares during the period. Crow Point Partners LLC grew its stake in shares of Shentel by 3.7% in the fourth quarter. Crow Point Partners LLC now owns 975,000 shares of the utilities provider’s stock worth $32,858,000 after acquiring an additional 35,000 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Shentel by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 231,240 shares of the utilities provider’s stock worth $7,816,000 after acquiring an additional 10,145 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Shentel in the fourth quarter worth approximately $405,000. Institutional investors and hedge funds own 49.39% of the company’s stock.

About Shentel

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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