Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up – Should You Buy?

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.11, but opened at $11.69. Shenandoah Telecommunications shares last traded at $11.6510, with a volume of 7,527 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SHEN. BWS Financial reiterated a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Monday, May 4th. Craig Hallum started coverage on Shenandoah Telecommunications in a report on Thursday, April 9th. They set a “buy” rating and a $29.00 price objective for the company. Wall Street Zen downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shenandoah Telecommunications presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Shenandoah Telecommunications Stock Down 2.4%

The firm’s 50-day simple moving average is $14.58 and its 200 day simple moving average is $14.18. The company has a market cap of $635.07 million, a P/E ratio of -14.35 and a beta of 0.67. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.12 and a current ratio of 1.12.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%.The company had revenue of $92.15 million during the quarter, compared to the consensus estimate of $91.34 million. On average, research analysts forecast that Shenandoah Telecommunications Co will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC grew its holdings in Shenandoah Telecommunications by 1.4% during the fourth quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider’s stock valued at $818,000 after purchasing an additional 948 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Shenandoah Telecommunications by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 986 shares during the period. Gabelli Funds LLC raised its holdings in Shenandoah Telecommunications by 0.5% in the first quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock worth $3,077,000 after purchasing an additional 1,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Shenandoah Telecommunications by 13.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 1,511 shares in the last quarter. 61.96% of the stock is currently 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.