Shenandoah Telecommunications (NASDAQ:SHEN) Share Price Crosses Above 200-Day Moving Average of $18.73

Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.73 and traded as high as $19.40. Shenandoah Telecommunications shares last traded at $18.87, with a volume of 62,576 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Shenandoah Telecommunications in a research report on Thursday, May 18th. They set a “sell” rating on the stock.

Shenandoah Telecommunications Stock Down 3.4 %

The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $19.39 and its 200-day simple moving average is $18.73. The stock has a market capitalization of $948.22 million, a price-to-earnings ratio of -171.55 and a beta of 0.72.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The utilities provider reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Shenandoah Telecommunications had a negative net margin of 2.08% and a negative return on equity of 0.25%. The firm had revenue of $70.01 million for the quarter, compared to analyst estimates of $67.79 million. Equities analysts expect that Shenandoah Telecommunications will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in shares of Shenandoah Telecommunications by 1.3% during the 2nd quarter. LPL Financial LLC now owns 38,970 shares of the utilities provider’s stock worth $865,000 after purchasing an additional 513 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Shenandoah Telecommunications by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,159 shares of the utilities provider’s stock worth $1,088,000 after purchasing an additional 564 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Shenandoah Telecommunications by 1.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 64,016 shares of the utilities provider’s stock worth $1,421,000 after purchasing an additional 650 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Shenandoah Telecommunications by 2.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 28,902 shares of the utilities provider’s stock worth $459,000 after purchasing an additional 785 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of 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 purchasing an additional 810 shares during the last quarter. 53.82% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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Shenandoah Telecommunications Co is a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the Broadband and Tower segments.