Shenandoah Telecommunications (NASDAQ:SHEN) Expected to Post Quarterly Sales of $64.25 Million

Analysts predict that Shenandoah Telecommunications (NASDAQ:SHENGet Rating) will post sales of $64.25 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Shenandoah Telecommunications’ earnings. The highest sales estimate is $65.15 million and the lowest is $63.00 million. Shenandoah Telecommunications reported sales of $60.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.8%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Shenandoah Telecommunications will report full-year sales of $258.48 million for the current financial year, with estimates ranging from $256.30 million to $261.40 million. For the next year, analysts expect that the firm will report sales of $284.55 million, with estimates ranging from $280.60 million to $288.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Shenandoah Telecommunications.

Shenandoah Telecommunications (NASDAQ:SHENGet Rating) last posted its earnings results on Thursday, April 28th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Shenandoah Telecommunications had a return on equity of 1.64% and a net margin of 378.97%. During the same period last year, the business posted $0.06 EPS.

A number of equities research analysts have issued reports on the company. StockNews.com assumed coverage on Shenandoah Telecommunications in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. B. Riley lowered Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $21.00 in a research report on Monday, May 2nd. They noted that the move was a valuation call. BWS Financial lowered Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and reduced their price target for the company from $26.25 to $16.00 in a research report on Wednesday, March 2nd. Finally, Raymond James upgraded Shenandoah Telecommunications from an “outperform” rating to a “strong-buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.67.

SHEN stock opened at $20.65 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 1.09 and a beta of 0.39. The business’s 50-day moving average is $22.24 and its two-hundred day moving average is $23.91. Shenandoah Telecommunications has a 1 year low of $17.06 and a 1 year high of $61.53.

In other Shenandoah Telecommunications news, President Christopher E. French acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were acquired at an average price of $19.37 per share, for a total transaction of $201,448.00. Following the acquisition, the president now owns 200,426 shares in the company, valued at approximately $3,882,251.62. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.04% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in Shenandoah Telecommunications by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 508,049 shares of the utilities provider’s stock worth $11,981,000 after buying an additional 33,344 shares during the last quarter. Lazard Asset Management LLC grew its stake in Shenandoah Telecommunications by 45.4% during the 1st quarter. Lazard Asset Management LLC now owns 2,595 shares of the utilities provider’s stock worth $61,000 after buying an additional 810 shares during the last quarter. Mariner LLC grew its stake in Shenandoah Telecommunications by 10.7% during the 1st quarter. Mariner LLC now owns 18,821 shares of the utilities provider’s stock worth $444,000 after buying an additional 1,824 shares during the last quarter. Gabelli Funds LLC grew its stake in Shenandoah Telecommunications by 47.9% during the 1st quarter. Gabelli Funds LLC now owns 142,000 shares of the utilities provider’s stock worth $3,348,000 after buying an additional 46,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Shenandoah Telecommunications by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 112,236 shares of the utilities provider’s stock worth $2,647,000 after buying an additional 4,700 shares during the last quarter. Hedge funds and other institutional investors own 55.57% of the company’s stock.

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

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