Zacks Investment Research upgraded shares of Shenandoah Telecommunications Co. (NASDAQ:SHEN) from a sell rating to a hold rating in a research report released 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. “

A number of other equities analysts also recently commented on SHEN. FBR & Co downgraded shares of Shenandoah Telecommunications from an outperform rating to a market perform rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Monday, August 8th. Raymond James Financial Inc. upgraded shares of Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $33.00 target price for the company in a research note on Tuesday, August 16th. Finally, TheStreet downgraded shares of Shenandoah Telecommunications from a buy rating to a hold rating in a research note on Wednesday, August 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Shenandoah Telecommunications presently has a consensus rating of Buy and an average target price of $35.20.

Shenandoah Telecommunications (NASDAQ:SHEN) opened at 28.65 on Tuesday. Shenandoah Telecommunications has a 1-year low of $19.18 and a 1-year high of $42.66. The firm’s 50 day moving average price is $26.03 and its 200-day moving average price is $30.69. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 124.03 and a beta of 0.99.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Monday, November 7th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.30. The firm had revenue of $156.80 million for the quarter, compared to analyst estimates of $161.09 million. Shenandoah Telecommunications had a return on equity of 15.63% and a net margin of 2.44%. On average, equities analysts anticipate that Shenandoah Telecommunications will post ($0.07) earnings per share for the current year.

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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 dividend payout ratio is presently 113.64%.

Hedge funds have recently added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new stake in Shenandoah Telecommunications during the second quarter valued at approximately $398,000. California Public Employees Retirement System raised its stake in Shenandoah Telecommunications by 4.1% in the second quarter. California Public Employees Retirement System now owns 133,900 shares of the company’s stock valued at $5,230,000 after buying an additional 5,300 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in Shenandoah Telecommunications by 25.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 759,981 shares of the company’s stock valued at $29,685,000 after buying an additional 154,805 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Shenandoah Telecommunications by 77.4% in the second quarter. Victory Capital Management Inc. now owns 2,730 shares of the company’s stock worth $107,000 after buying an additional 1,191 shares during the period. Finally, DUPONT CAPITAL MANAGEMENT Corp raised its stake in shares of Shenandoah Telecommunications by 66.4% in the second quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 34,856 shares of the company’s stock worth $1,361,000 after buying an additional 13,910 shares during the period. Institutional investors and hedge funds own 47.61% 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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