Shenandoah Telecommunications (NASDAQ:SHEN) Receives Consensus Rating of “Hold” from Brokerages

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) has been assigned an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $23.33.

A number of brokerages recently weighed in on SHEN. StockNews.com started coverage on shares of Shenandoah Telecommunications in a research report on Thursday, March 31st. They set a “sell” rating on the stock. B. Riley reduced their target price on shares of Shenandoah Telecommunications from $32.00 to $29.00 in a report on Wednesday, March 2nd. BWS Financial cut shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and reduced their target price for the company from $26.25 to $16.00 in a report on Wednesday, March 2nd. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Raymond James reduced their price objective on shares of Shenandoah Telecommunications from $29.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd.

Several large investors have recently modified their holdings of the stock. Strs Ohio boosted its position in shares of Shenandoah Telecommunications by 11.0% during the first quarter. Strs Ohio now owns 40,300 shares of the utilities provider’s stock worth $950,000 after acquiring an additional 4,000 shares during the last quarter. Inspire Investing LLC bought a new position in Shenandoah Telecommunications during the first quarter valued at $238,000. CWM LLC lifted its position in Shenandoah Telecommunications by 1,529.4% during the first quarter. CWM LLC now owns 48,394 shares of the utilities provider’s stock valued at $1,141,000 after purchasing an additional 45,424 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV lifted its position in Shenandoah Telecommunications by 2.2% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 42,620 shares of the utilities provider’s stock valued at $1,005,000 after purchasing an additional 934 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new position in Shenandoah Telecommunications during the first quarter valued at $37,000. Hedge funds and other institutional investors own 55.08% of the company’s stock.

Shares of NASDAQ SHEN traded up $0.12 during midday trading on Friday, hitting $22.88. The stock had a trading volume of 7,365 shares, compared to its average volume of 255,273. The company has a market cap of $1.15 billion, a P/E ratio of 1.15 and a beta of 0.30. The business’s 50 day moving average is $22.32 and its 200-day moving average is $25.07. Shenandoah Telecommunications has a 52 week low of $18.77 and a 52 week high of $61.53.

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

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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