Shenandoah Telecommunications Co. (NASDAQ:SHEN) has been given an average rating of “Hold” by the seven ratings firms that are covering the stock. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $35.25.
A number of analysts recently issued reports on SHEN shares. FBR & Co lowered Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $31.00 to $35.00 in a research note on Monday, August 8th. Raymond James Financial Inc. upgraded Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research note on Tuesday, August 16th. Zacks Investment Research upgraded Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 10th. Finally, TheStreet lowered Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th.
Shares of Shenandoah Telecommunications (NASDAQ:SHEN) opened at 25.97 on Tuesday. The stock’s 50 day moving average price is $26.22 and its 200-day moving average price is $31.06. Shenandoah Telecommunications has a 52 week low of $19.18 and a 52 week high of $42.66. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 47.30 and a beta of 1.11.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.39. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. The company had revenue of $130.30 million for the quarter, compared to the consensus estimate of $93.96 million. Equities analysts predict that Shenandoah Telecommunications will post $0.38 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in SHEN. Norges Bank purchased a new position in shares of Shenandoah Telecommunications during the fourth quarter valued at approximately $9,640,000. Glenmede Trust Co. NA raised its position in shares of Shenandoah Telecommunications by 637.7% in the first quarter. Glenmede Trust Co. NA now owns 14,754 shares of the company’s stock valued at $394,000 after buying an additional 12,754 shares during the period. Nisa Investment Advisors L.L.C. raised its position in shares of Shenandoah Telecommunications by 100.0% in the first quarter. Nisa Investment Advisors L.L.C. now owns 14,200 shares of the company’s stock valued at $380,000 after buying an additional 7,100 shares during the period. Virginia Retirement System purchased a new position in shares of Shenandoah Telecommunications during the first quarter valued at approximately $270,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of Shenandoah Telecommunications by 123.0% in the first quarter. TIAA CREF Investment Management LLC now owns 203,440 shares of the company’s stock valued at $5,442,000 after buying an additional 112,206 shares during the period. Hedge funds and other institutional investors own 42.04% 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.
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