Shenandoah Telecommunications’ (SHEN) Buy Rating Reiterated at BWS Financial

Shenandoah Telecommunications (NASDAQ:SHEN)‘s stock had its “buy” rating reiterated by BWS Financial in a report issued on Tuesday,Benzinga reports. They currently have a $26.00 price target on the utilities provider’s stock. BWS Financial’s target price suggests a potential upside of 133.50% from the stock’s current price.

Shenandoah Telecommunications Stock Performance

NASDAQ:SHEN traded down $0.12 during trading hours on Tuesday, hitting $11.14. 4,090 shares of the company were exchanged, compared to its average volume of 205,988. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.82 and a quick ratio of 0.79. Shenandoah Telecommunications has a 52-week low of $9.77 and a 52-week high of $21.89. The stock has a market capitalization of $607.99 million, a price-to-earnings ratio of 2.95 and a beta of 0.61. The company’s 50 day moving average price is $11.87 and its 200-day moving average price is $13.32.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The company had revenue of $85.41 million for the quarter, compared to analysts’ expectations of $89.65 million. As a group, research analysts forecast that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after buying an additional 1,061 shares during the period. Nebula Research & Development LLC increased its stake in shares of Shenandoah Telecommunications by 5.5% in the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 1,147 shares during the period. PAX Financial Group LLC raised its holdings in shares of Shenandoah Telecommunications by 3.8% during the fourth quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider’s stock worth $468,000 after purchasing an additional 1,353 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Shenandoah Telecommunications by 11.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,380 shares during the period. Finally, LPL Financial LLC lifted its position in Shenandoah Telecommunications by 5.9% during the fourth quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider’s stock valued at $485,000 after purchasing an additional 2,143 shares during the period. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.