Shenandoah Telecommunications (NASDAQ:SHEN) announced its earnings results on Thursday. The utilities provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01), Morningstar.com reports. Shenandoah Telecommunications had a net margin of 14.41% and a return on equity of 8.73%.
Shares of SHEN stock traded up $1.58 during trading hours on Friday, hitting $46.02. 124,214 shares of the company were exchanged, compared to its average volume of 174,789. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.50. Shenandoah Telecommunications has a one year low of $29.92 and a one year high of $51.41. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 177.00 and a beta of 0.53.
Several hedge funds have recently modified their holdings of SHEN. Meeder Asset Management Inc. bought a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $40,000. Bank of Montreal Can lifted its position in shares of Shenandoah Telecommunications by 51.4% during the fourth quarter. Bank of Montreal Can now owns 1,002 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 340 shares during the last quarter. Strs Ohio bought a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $75,000. Quantamental Technologies LLC bought a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $84,000. Finally, Captrust Financial Advisors bought a new position in shares of Shenandoah Telecommunications during the third quarter worth about $123,000. 46.31% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. BidaskClub downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday. B. Riley set a $50.00 target price on Shenandoah Telecommunications and gave the company a “buy” rating in a research note on Wednesday, November 7th. ValuEngine raised shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 10th. Zacks Investment Research raised shares of Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $51.00 price target on the stock in a research report on Thursday, November 15th. Finally, BWS Financial reaffirmed a “buy” rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. Shenandoah Telecommunications currently has a consensus rating of “Buy” and a consensus price target of $50.50.
Shenandoah Telecommunications Company Profile
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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