Equities research analysts expect Shenandoah Telecommunications Co (NASDAQ:SHEN) to post sales of $153.60 million for the current quarter, Zacks reports. Two analysts have made estimates for Shenandoah Telecommunications’ earnings, with the highest sales estimate coming in at $153.86 million and the lowest estimate coming in at $153.33 million. Shenandoah Telecommunications posted sales of $156.84 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Shenandoah Telecommunications will report full-year sales of $153.60 million for the current financial year, with estimates ranging from $614.68 million to $615.96 million. For the next fiscal year, analysts forecast that the company will report sales of $643.07 million per share, with estimates ranging from $630.57 million to $655.58 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Shenandoah Telecommunications.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The business had revenue of $153.30 million for the quarter, compared to analysts’ expectations of $153.83 million. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis.
A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, ValuEngine raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.00.
In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $38.93, for a total transaction of $1,790,780.00. Following the completion of the sale, the insider now directly owns 118,047 shares of the company’s stock, valued at approximately $4,595,569.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.24% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank increased its holdings in Shenandoah Telecommunications by 13.2% during the 2nd quarter. Toronto Dominion Bank now owns 6,636 shares of the utilities provider’s stock worth $204,000 after purchasing an additional 776 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Shenandoah Telecommunications by 9.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 347 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Shenandoah Telecommunications by 1,399.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock worth $16,510,000 after purchasing an additional 501,920 shares in the last quarter. State Street Corp increased its holdings in Shenandoah Telecommunications by 5.7% during the 2nd quarter. State Street Corp now owns 946,221 shares of the utilities provider’s stock worth $29,048,000 after purchasing an additional 50,603 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Shenandoah Telecommunications by 1.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 82,054 shares of the utilities provider’s stock worth $2,519,000 after purchasing an additional 1,544 shares in the last quarter. 49.26% of the stock is owned by hedge funds and other institutional investors.
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Shenandoah Telecommunications (NASDAQ SHEN) opened at 38.50 on Friday. The firm’s market capitalization is $1.89 billion. The stock’s 50 day moving average is $36.52 and its 200-day moving average is $32.43. Shenandoah Telecommunications has a 1-year low of $22.05 and a 1-year high of $41.80.
Shenandoah Telecommunications Company Profile
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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