Shenandoah Telecommunications Co (NASDAQ:SHEN) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Friday.
Several other brokerages have also commented on SHEN. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub raised shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, ValuEngine raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Shenandoah Telecommunications currently has a consensus rating of “Buy” and an average price target of $35.00.
Shares of Shenandoah Telecommunications (NASDAQ:SHEN) traded down $0.55 during mid-day trading on Friday, reaching $34.10. 85,700 shares of the company traded hands, compared to its average volume of 183,847. Shenandoah Telecommunications has a 1 year low of $24.95 and a 1 year 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 $1,707.02, a price-to-earnings ratio of 138.60 and a beta of 0.70.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The firm had revenue of $151.80 million during the quarter, compared to analyst estimates of $153.64 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Shenandoah Telecommunications’s revenue for the quarter was down 3.2% compared to the same quarter last year. sell-side analysts anticipate that Shenandoah Telecommunications will post 0.16 earnings per share for the current fiscal year.
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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 shares were 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 in the company, valued at $4,595,569.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.24% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Shenandoah Telecommunications by 91,238.8% in the first quarter. BlackRock Inc. now owns 3,679,126 shares of the utilities provider’s stock valued at $103,201,000 after acquiring an additional 3,675,098 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Shenandoah Telecommunications by 1,399.2% in the second quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock valued at $16,510,000 after acquiring an additional 501,920 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in Shenandoah Telecommunications by 28.6% in the second quarter. Mawer Investment Management Ltd. now owns 838,399 shares of the utilities provider’s stock valued at $25,739,000 after acquiring an additional 186,523 shares in the last quarter. Vanguard Group Inc. raised its holdings in Shenandoah Telecommunications by 4.9% in the first quarter. Vanguard Group Inc. now owns 3,673,593 shares of the utilities provider’s stock valued at $103,043,000 after acquiring an additional 172,459 shares in the last quarter. Finally, FMR LLC raised its holdings in Shenandoah Telecommunications by 24.2% in the first quarter. FMR LLC now owns 455,956 shares of the utilities provider’s stock valued at $12,790,000 after acquiring an additional 88,817 shares in the last quarter. Institutional investors and hedge funds own 49.36% of the company’s stock.
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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