Shenandoah Telecommunications Co (NASDAQ:SHEN) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Friday.
Several other research firms have also recently issued reports on SHEN. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.00.
Shenandoah Telecommunications (SHEN) opened at $34.10 on Friday. 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 stock has a market cap of $1,707.02, a P/E ratio of 138.60 and a beta of 0.70. Shenandoah Telecommunications has a 1-year low of $24.95 and a 1-year high of $41.80.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million during the quarter, compared to analysts’ expectations of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted ($0.16) earnings per share. analysts anticipate that Shenandoah Telecommunications will post 0.16 EPS for the current fiscal year.
In related news, insider Earle A. Mackenzie sold 46,000 shares of the 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 of the company’s stock, valued at $4,595,569.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.24% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Shenandoah Telecommunications during the first quarter valued at approximately $105,000. Ameritas Investment Partners Inc. lifted its position in shares of Shenandoah Telecommunications by 9.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 347 shares in the last quarter. Pacad Investment Ltd. lifted its position in shares of Shenandoah Telecommunications by 5.0% in the 2nd quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock valued at $129,000 after acquiring an additional 200 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Shenandoah Telecommunications in the 3rd quarter valued at approximately $138,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Shenandoah Telecommunications by 790.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock valued at $169,000 after acquiring an additional 4,901 shares in the last quarter. 49.36% of the stock is owned by institutional investors and hedge funds.
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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