Shenandoah Telecommunications (NASDAQ:SHEN) Raised to “Hold” at Zacks Investment Research

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

A number of other equities research analysts have also recently commented on the stock. B. Riley lowered their price target on shares of Shenandoah Telecommunications from $32.00 to $29.00 in a report on Wednesday, March 2nd. Raymond James dropped their price target on Shenandoah Telecommunications from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. StockNews.com began coverage on Shenandoah Telecommunications in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, BWS Financial downgraded shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $26.25 to $16.00 in a report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.33.

Shares of Shenandoah Telecommunications stock opened at $24.20 on Thursday. The business’s fifty day simple moving average is $22.24 and its 200 day simple moving average is $25.37. Shenandoah Telecommunications has a 12 month low of $18.77 and a 12 month high of $61.53. The firm has a market capitalization of $1.21 billion, a P/E ratio of 1.21 and a beta of 0.30.

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) last issued its quarterly earnings results on Monday, February 28th. The utilities provider reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.02. Shenandoah Telecommunications had a net margin of 407.52% and a return on equity of 2.20%. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $62.68 million. During the same period in the previous year, the firm earned $0.03 EPS. On average, research analysts anticipate that Shenandoah Telecommunications will post 0.13 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth about $35,000. UBS Group AG lifted its holdings in shares of Shenandoah Telecommunications by 100.6% in the third quarter. UBS Group AG now owns 1,440 shares of the utilities provider’s stock worth $46,000 after buying an additional 722 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the fourth quarter worth about $45,000. Public Employees Retirement System of Ohio boosted its position in shares of Shenandoah Telecommunications by 26.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,301 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 477 shares during the period. Finally, CWM LLC purchased a new position in Shenandoah Telecommunications during the fourth quarter valued at approximately $76,000. Institutional investors own 55.08% of the company’s stock.

Shenandoah Telecommunications Company Profile (Get Rating)

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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

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