Shenandoah Telecommunications (NASDAQ:SHEN) Raised to “Hold” at Wall Street Zen

Shenandoah Telecommunications (NASDAQ:SHEN) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

SHEN has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Shenandoah Telecommunications Trading Down 0.7%

SHEN stock opened at $15.28 on Friday. The company has a market capitalization of $844.98 million, a PE ratio of -22.47 and a beta of 0.79. Shenandoah Telecommunications has a 12 month low of $9.66 and a 12 month high of $15.92. The firm’s 50-day moving average is $12.38 and its 200 day moving average is $12.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.90 and a quick ratio of 0.90.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. The company had revenue of $91.59 million during the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. On average, research analysts anticipate that Shenandoah Telecommunications will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHEN. Alberta Investment Management Corp boosted its stake in shares of Shenandoah Telecommunications by 171.3% during the second quarter. Alberta Investment Management Corp now owns 176,657 shares of the utilities provider’s stock valued at $2,413,000 after purchasing an additional 111,530 shares in the last quarter. Cooper Investors PTY Ltd. purchased a new position in Shenandoah Telecommunications during the third quarter valued at approximately $7,050,000. Brandywine Global Investment Management LLC bought a new position in Shenandoah Telecommunications in the second quarter worth approximately $1,317,000. Geode Capital Management LLC raised its stake in Shenandoah Telecommunications by 8.1% in the second quarter. Geode Capital Management LLC now owns 1,248,255 shares of the utilities provider’s stock worth $17,053,000 after buying an additional 93,340 shares in the last quarter. Finally, ECP ControlCo LLC lifted its holdings in Shenandoah Telecommunications by 10.7% during the second quarter. ECP ControlCo LLC now owns 2,714,371 shares of the utilities provider’s stock worth $37,078,000 after buying an additional 261,987 shares during the period. Hedge funds and other institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.