Shenandoah Telecommunications Co (NASDAQ:SHEN) Upgraded to “Hold” at ValuEngine
Shenandoah Telecommunications Co (NASDAQ:SHEN) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Thursday, May 11th. TheStreet cut shares of Shenandoah Telecommunications from a “b” rating to a “c+” rating in a research note on Thursday, May 4th. Finally, BidaskClub cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.67.
Shenandoah Telecommunications (NASDAQ:SHEN) opened at 35.65 on Thursday. Shenandoah Telecommunications has a 52-week low of $22.05 and a 52-week high of $36.80. The company has a 50-day moving average of $30.90 and a 200 day moving average of $29.82. The firm’s market cap is $1.75 billion.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The business had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $153.83 million. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts anticipate that Shenandoah Telecommunications will post $0.10 EPS for the current year.
In other news, VP Raymond B. Ostroski sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $31.75, for a total value of $95,250.00. Following the completion of the transaction, the vice president now directly owns 21,621 shares in the company, valued at approximately $686,466.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.24% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Shenandoah Telecommunications by 91,238.8% in the first quarter. BlackRock Inc. now owns 3,679,126 shares of the utilities provider’s stock valued at $103,201,000 after buying an additional 3,675,098 shares during the last quarter. Norges Bank purchased a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $13,697,000. Aberdeen Asset Management PLC UK boosted its position in shares of Shenandoah Telecommunications by 16.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,374,343 shares of the utilities provider’s stock valued at $66,600,000 after buying an additional 338,266 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Shenandoah Telecommunications by 20.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,837,275 shares of the utilities provider’s stock valued at $51,536,000 after buying an additional 313,500 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in shares of Shenandoah Telecommunications by 28.6% in the second quarter. Mawer Investment Management Ltd. now owns 838,399 shares of the utilities provider’s stock valued at $25,739,000 after buying an additional 186,523 shares during the last quarter. Institutional investors own 49.61% of the company’s stock.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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