B. Riley Downgrades Shenandoah Telecommunications (NASDAQ:SHEN) to Neutral

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) was downgraded by equities researchers at B. Riley from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. They presently have a $21.00 price target on the utilities provider’s stock, down from their prior price target of $29.00. B. Riley’s price objective would suggest a potential upside of 20.14% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently commented on the stock. StockNews.com assumed coverage on shares of Shenandoah Telecommunications in a report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. Raymond James reduced their target price on shares of Shenandoah Telecommunications from $29.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Finally, BWS Financial cut shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and cut their price target 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, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.67.

Shares of SHEN stock traded down $2.72 during mid-day trading on Monday, hitting $17.48. The stock had a trading volume of 1,913 shares, compared to its average volume of 254,461. Shenandoah Telecommunications has a fifty-two week low of $18.77 and a fifty-two week high of $61.53. The firm has a market cap of $874.86 million, a PE ratio of 0.97 and a beta of 0.30. The company’s 50-day simple moving average is $22.31 and its 200-day simple moving average is $24.57.

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The utilities provider reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.05). Shenandoah Telecommunications had a net margin of 378.97% and a return on equity of 1.63%. During the same quarter last year, the firm posted $0.06 earnings per share. Research analysts expect that Shenandoah Telecommunications will post 0.07 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Shenandoah Telecommunications in the fourth quarter valued at $35,000. Copeland Capital Management LLC bought a new position in shares of Shenandoah Telecommunications during the 1st quarter valued at about $37,000. Lazard Asset Management LLC bought a new position in shares of Shenandoah Telecommunications during the 4th quarter valued at about $45,000. UBS Group AG lifted its stake in Shenandoah Telecommunications by 100.6% in the 3rd quarter. UBS Group AG now owns 1,440 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 722 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Shenandoah Telecommunications by 26.2% in the 4th 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 in the last quarter. 55.57% of the stock is owned by institutional investors.

About Shenandoah Telecommunications (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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