Shenandoah Telecommunications (NASDAQ:SHEN) Reaches New 12-Month High – Should You Buy?

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $17.12 and last traded at $16.91, with a volume of 308621 shares trading hands. The stock had previously closed at $16.71.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SHEN shares. Craig Hallum began coverage on shares of Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 target price on the stock. Wall Street Zen raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. BWS Financial reissued a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Stock Up 1.5%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71. The stock has a market cap of $945.63 million, a P/E ratio of -25.15 and a beta of 0.67. The company’s 50 day moving average price is $14.72 and its two-hundred day moving average price is $12.77.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.10. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. The company had revenue of $91.59 million during the quarter, compared to analyst estimates of $90.03 million. Equities analysts forecast that Shenandoah Telecommunications Co will post -0.86 earnings per share for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in Shenandoah Telecommunications by 11,367.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 4,206 shares during the period. Caitlin John LLC grew its holdings in Shenandoah Telecommunications by 324.0% during the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 3,477 shares during the period. State of Wyoming purchased a new stake in Shenandoah Telecommunications in the second quarter worth about $65,000. Tower Research Capital LLC TRC increased its position in Shenandoah Telecommunications by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock worth $68,000 after buying an additional 2,228 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Shenandoah Telecommunications in the third quarter worth about $67,000. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.