Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 1-Year Low at $14.64

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.64 and last traded at $14.64, with a volume of 70654 shares traded. The stock had previously closed at $15.24.

Analyst Ratings Changes

Separately, BWS Financial upgraded Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Monday, March 4th.

Shenandoah Telecommunications Price Performance

The business has a fifty day moving average price of $17.99 and a 200-day moving average price of $20.50. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $736.07 million, a PE ratio of 95.26 and a beta of 0.52.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $72.51 million during the quarter, compared to analysts’ expectations of $71.85 million. Shenandoah Telecommunications had a return on equity of 1.24% and a net margin of 2.80%. During the same period in the prior year, the business earned ($0.04) EPS. Research analysts expect that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Shenandoah Telecommunications by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,365,899 shares of the utilities provider’s stock valued at $91,327,000 after purchasing an additional 104,936 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Shenandoah Telecommunications by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,420,378 shares of the utilities provider’s stock valued at $52,328,000 after purchasing an additional 46,227 shares during the last quarter. State Street Corp raised its position in shares of Shenandoah Telecommunications by 1.8% in the 2nd quarter. State Street Corp now owns 1,905,646 shares of the utilities provider’s stock worth $37,027,000 after acquiring an additional 34,454 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Shenandoah Telecommunications in the 4th quarter worth approximately $22,186,000. Finally, Geode Capital Management LLC raised its position in shares of Shenandoah Telecommunications by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 989,857 shares of the utilities provider’s stock worth $19,233,000 after acquiring an additional 24,124 shares in the last quarter. Institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.