Zacks Investment Research lowered shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) from a buy rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Other equities analysts have also recently issued research reports about the company. TheStreet cut Shenandoah Telecommunications from a buy rating to a hold rating in a report on Wednesday, August 24th. FBR & Co cut Shenandoah Telecommunications from an outperform rating to a market perform rating and raised their price objective for the company from $31.00 to $35.00 in a report on Monday, August 8th. Finally, Raymond James Financial Inc. upgraded Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $33.00 price objective for the company in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $35.20.

Analyst Recommendations for Shenandoah Telecommunications (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN) traded down 2.023% during trading on Tuesday, reaching $25.425. The company’s stock had a trading volume of 90,153 shares. Shenandoah Telecommunications has a 52-week low of $19.18 and a 52-week high of $42.66. The firm’s 50-day moving average is $25.95 and its 200-day moving average is $30.88. The stock has a market cap of $1.24 billion, a P/E ratio of 110.065 and a beta of 0.99.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.30. The company earned $156.80 million during the quarter, compared to the consensus estimate of $161.09 million. Shenandoah Telecommunications had a net margin of 2.44% and a return on equity of 15.63%. Equities research analysts forecast that Shenandoah Telecommunications will post ($0.07) EPS for the current year.

The firm also recently declared an annual dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a dividend yield of 0.96%. Shenandoah Telecommunications’s payout ratio is 113.64%.

Several large investors have recently added to or reduced their stakes in SHEN. TIAA CREF Investment Management LLC increased its stake in Shenandoah Telecommunications by 123.0% in the first quarter. TIAA CREF Investment Management LLC now owns 203,440 shares of the company’s stock worth $5,442,000 after buying an additional 112,206 shares during the last quarter. Teachers Advisors Inc. increased its stake in Shenandoah Telecommunications by 100.0% in the first quarter. Teachers Advisors Inc. now owns 71,668 shares of the company’s stock worth $1,917,000 after buying an additional 35,834 shares during the last quarter. BlackRock Inc. increased its stake in Shenandoah Telecommunications by 479.8% in the first quarter. BlackRock Inc. now owns 3,798 shares of the company’s stock worth $102,000 after buying an additional 3,143 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Shenandoah Telecommunications by 100.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,175,702 shares of the company’s stock worth $31,450,000 after buying an additional 589,107 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Shenandoah Telecommunications by 132.6% in the first quarter. Goldman Sachs Group Inc. now owns 61,612 shares of the company’s stock worth $1,648,000 after buying an additional 35,119 shares during the last quarter. Institutional investors own 40.69% of the company’s stock.

About Shenandoah Telecommunications

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.

5 Day Chart for NASDAQ:SHEN

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