Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) have been given an average rating of “Hold” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $34.00.
Several analysts have commented on the company. BidaskClub upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet cut Shenandoah Telecommunications from a “b” rating to a “c+” rating in a report on Thursday, May 4th.
In other news, VP Raymond B. Ostroski sold 3,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $31.75, for a total transaction of $95,250.00. Following the completion of the sale, the vice president now owns 21,621 shares in the company, valued at approximately $686,466.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.24% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Shenandoah Telecommunications by 44.0% in the second quarter. JPMorgan Chase & Co. now owns 19,655 shares of the utilities provider’s stock worth $604,000 after buying an additional 6,001 shares during the last quarter. Campbell Newman Asset Management Inc. purchased a new stake in shares of Shenandoah Telecommunications during the second quarter worth about $220,000. Pacad Investment Ltd. boosted its stake in shares of Shenandoah Telecommunications by 5.0% in the second quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock worth $129,000 after buying an additional 200 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its stake in shares of Shenandoah Telecommunications by 5.5% in the second quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after buying an additional 300 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Shenandoah Telecommunications by 790.5% in the second quarter. BNP Paribas Arbitrage SA now owns 5,521 shares of the utilities provider’s stock worth $169,000 after buying an additional 4,901 shares during the last quarter. Institutional investors and hedge funds own 49.61% of the company’s stock.
Shenandoah Telecommunications (SHEN) opened at 35.65 on Thursday. The stock’s market cap is $1.75 billion. The firm’s 50-day moving average is $30.90 and its 200 day moving average is $29.82. Shenandoah Telecommunications has a 52 week low of $22.05 and a 52 week high of $36.80.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $153.83 million. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, equities research analysts expect that Shenandoah Telecommunications will post $0.10 EPS for the current year.
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Shenandoah Telecommunications Company Profile
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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