Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 52-Week Low at $32.76

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $32.76 and last traded at $32.79, with a volume of 92065 shares trading hands. The stock had previously closed at $33.72.

A number of research analysts have recently issued reports on the company. BidaskClub downgraded Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 6th. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Macquarie reissued a “hold” rating and issued a $47.00 price objective on shares of Shenandoah Telecommunications in a research note on Sunday, May 12th. Raymond James raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research note on Wednesday, August 7th. Finally, TheStreet downgraded Shenandoah Telecommunications from a “b-” rating to a “c” rating in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $49.00.

The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 35.26 and a beta of 0.33. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.69 and a current ratio of 1.74. The business has a 50 day moving average price of $37.67 and a 200-day moving average price of $42.15.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $158.91 million for the quarter, compared to the consensus estimate of $162.23 million. Shenandoah Telecommunications had a return on equity of 12.75% and a net margin of 9.00%. As a group, equities analysts predict that Shenandoah Telecommunications will post 1.16 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its stake in Shenandoah Telecommunications by 1.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,799 shares of the utilities provider’s stock worth $1,379,000 after buying an additional 346 shares during the period. Principal Financial Group Inc. raised its stake in Shenandoah Telecommunications by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock worth $756,000 after buying an additional 452 shares during the period. Tower Research Capital LLC TRC raised its stake in Shenandoah Telecommunications by 220.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,070 shares of the utilities provider’s stock worth $41,000 after buying an additional 736 shares during the period. Point72 Asset Management L.P. acquired a new position in Shenandoah Telecommunications during the 2nd quarter worth approximately $31,000. Finally, USA Financial Portformulas Corp raised its stake in Shenandoah Telecommunications by 18.1% during the 2nd quarter. USA Financial Portformulas Corp now owns 6,356 shares of the utilities provider’s stock worth $282,000 after buying an additional 976 shares during the period. 49.28% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile (NASDAQ:SHEN)

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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