Q3 2022 Earnings Forecast for Shenandoah Telecommunications Issued By BWS Financial (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) – Analysts at BWS Financial cut their Q3 2022 earnings per share estimates for shares of Shenandoah Telecommunications in a research note issued on Monday, May 2nd. BWS Financial analyst H. Khorsand now anticipates that the utilities provider will earn $0.00 per share for the quarter, down from their previous estimate of $0.01. BWS Financial currently has a “Sell” rating and a $16.00 target price on the stock.

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) last posted its quarterly earnings results 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 1.64%. During the same quarter last year, the business earned $0.06 earnings per share.

Other analysts also recently issued reports about the stock. Raymond James upgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “strong-buy” rating and set a $25.00 price target on the stock in a research report on Tuesday. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Tuesday, April 26th. 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. Finally, B. Riley downgraded shares of Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $21.00 in a research report on Monday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.67.

Shares of NASDAQ:SHEN opened at $19.68 on Wednesday. The company has a market cap of $984.98 million, a PE ratio of 1.04 and a beta of 0.39. The company’s 50-day moving average price is $22.21 and its 200 day moving average price is $24.40. Shenandoah Telecommunications has a fifty-two week low of $17.06 and a fifty-two week high of $61.53.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in shares of Shenandoah Telecommunications in the fourth quarter worth approximately $35,000. Copeland Capital Management LLC purchased a new position in shares of Shenandoah Telecommunications in the first quarter worth approximately $37,000. Lazard Asset Management LLC purchased a new position in shares of Shenandoah Telecommunications in the fourth quarter worth approximately $45,000. UBS Group AG increased its position 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 acquiring an additional 722 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased 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 worth $59,000 after acquiring an additional 477 shares in the last quarter. Institutional investors and hedge funds own 55.57% 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.

Further Reading

Earnings History and Estimates for Shenandoah Telecommunications (NASDAQ:SHEN)

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