Shenandoah Telecommunications Co. (shen) Plans Annual Dividend of $0.25
Shenandoah Telecommunications Co. (NASDAQ:shen) declared an annual dividend on Tuesday, October 18th. Investors of record on Friday, November 4th will be given a dividend of 0.25 per share on Thursday, December 1st. The ex-dividend date of this dividend is Wednesday, November 2nd.
Shenandoah Telecommunications (NASDAQ:SHEN) opened at 26.55 on Wednesday. Shenandoah Telecommunications has a 52-week low of $19.18 and a 52-week high of $42.66. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 48.36 and a beta of 1.11. The company has a 50-day moving average of $26.30 and a 200-day moving average of $31.08.
Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.39. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $93.96 million. Shenandoah Telecommunications had a return on equity of 16.83% and a net margin of 6.83%. Equities research analysts expect that Shenandoah Telecommunications will post $0.38 EPS for the current year.
SHEN has been the topic of a number of recent analyst reports. TheStreet downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Zacks Investment Research downgraded Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th. FBR & Co downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $31.00 to $35.00 in a research report on Monday, August 8th. Finally, Raymond James Financial Inc. raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Tuesday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.20.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Shenandoah Telecommunications by 19.0% in the second quarter. BlackRock Inc. now owns 4,520 shares of the company’s stock valued at $176,000 after buying an additional 722 shares during the period. Zacks Investment Management bought a new stake in shares of Shenandoah Telecommunications during the second quarter valued at about $237,000. National Asset Management Inc. bought a new stake in shares of Shenandoah Telecommunications during the second quarter valued at about $265,000. Barclays PLC boosted its stake in shares of Shenandoah Telecommunications by 2,358.3% in the second quarter. Barclays PLC now owns 18,880 shares of the company’s stock valued at $737,000 after buying an additional 18,112 shares during the period. Finally, Paradigm Asset Management Co. LLC boosted its stake in shares of Shenandoah Telecommunications by 23.0% in the second quarter. Paradigm Asset Management Co. LLC now owns 28,050 shares of the company’s stock valued at $1,096,000 after buying an additional 5,250 shares during the period. 42.05% of the stock is currently owned by institutional investors.
Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company.
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