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

Shenandoah Telecommunications Co (NASDAQ:SHEN)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $15.92 and last traded at $15.60, with a volume of 63364 shares trading hands. The stock had previously closed at $15.62.

Analysts Set New Price Targets

A number of brokerages have issued reports on SHEN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Thursday, January 22nd. BWS Financial restated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.00.

Shenandoah Telecommunications Stock Up 0.1%

The firm has a market capitalization of $864.34 million, a PE ratio of -22.98 and a beta of 0.79. The business’s fifty day moving average price is $12.22 and its 200 day moving average price is $12.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly 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 return on equity of 4.01% and a negative net margin of 10.04%.The firm had revenue of $91.59 million for the quarter, compared to analysts’ expectations of $90.03 million. On average, equities research analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently bought and sold shares of the company. Alberta Investment Management Corp boosted its holdings in shares of Shenandoah Telecommunications by 171.3% in the second quarter. Alberta Investment Management Corp now owns 176,657 shares of the utilities provider’s stock valued at $2,413,000 after acquiring an additional 111,530 shares in the last quarter. Cooper Investors PTY Ltd. acquired a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth $7,050,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the 2nd quarter worth about $1,317,000. Geode Capital Management LLC grew its stake in Shenandoah Telecommunications by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider’s stock valued at $17,053,000 after acquiring an additional 93,340 shares during the last quarter. Finally, ECP ControlCo LLC increased its holdings in Shenandoah Telecommunications by 10.7% during the 2nd quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider’s stock valued at $37,078,000 after acquiring an additional 261,987 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

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.