BWS Financial Weighs in on Shenandoah Telecommunications’ Q2 2024 Earnings (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN) – Research analysts at BWS Financial cut their Q2 2024 earnings estimates for shares of Shenandoah Telecommunications in a note issued to investors on Monday, May 6th. BWS Financial analyst H. Khorsand now anticipates that the utilities provider will earn $0.01 per share for the quarter, down from their prior estimate of $0.02. BWS Financial currently has a “Buy” rating and a $26.00 target price on the stock. The consensus estimate for Shenandoah Telecommunications’ current full-year earnings is ($0.05) per share. BWS Financial also issued estimates for Shenandoah Telecommunications’ Q3 2024 earnings at $0.01 EPS and Q4 2024 earnings at $0.01 EPS.

Shenandoah Telecommunications Trading Up 9.9 %

Shares of Shenandoah Telecommunications stock opened at $16.37 on Thursday. The business has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $19.58. Shenandoah Telecommunications has a fifty-two week low of $11.87 and a fifty-two week high of $25.51. The firm has a market cap of $825.82 million, a price-to-earnings ratio of 3.78 and a beta of 0.61. The company has a quick ratio of 1.79, a current ratio of 4.68 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $72.51 million during the quarter, compared to the consensus estimate of $71.85 million. During the same period in the prior year, the firm posted ($0.04) earnings per share.

Hedge Funds Weigh In On Shenandoah Telecommunications

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of Shenandoah Telecommunications in the fourth quarter worth about $27,000. Quest Partners LLC purchased a new stake in shares of Shenandoah Telecommunications in the 4th quarter valued at approximately $41,000. SG Americas Securities LLC acquired a new position in Shenandoah Telecommunications in the 1st quarter worth approximately $109,000. HTLF Bank purchased a new position in Shenandoah Telecommunications during the 4th quarter worth approximately $203,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Shenandoah Telecommunications during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Insider Buying and Selling

In other Shenandoah Telecommunications news, COO Edward H. Mckay purchased 10,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was bought at an average cost of $14.95 per share, with a total value of $149,500.00. Following the acquisition, the chief operating officer now owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Christopher E. French bought 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average cost of $14.69 per share, for a total transaction of $161,590.00. Following the acquisition, the chief executive officer now directly owns 319,750 shares of the company’s stock, valued at approximately $4,697,127.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Edward H. Mckay bought 10,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $14.95 per share, for a total transaction of $149,500.00. Following the completion of the transaction, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The disclosure for this purchase can be found here. Insiders have bought a total of 23,963 shares of company stock valued at $354,545 over the last three months. Company insiders own 4.37% of the company’s stock.

Shenandoah Telecommunications Company Profile

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. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.