Shenandoah Telecommunications (NASDAQ:SHEN) Now Covered by Craig Hallum

Craig Hallum started coverage on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research report sent to investors on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $29.00 price target on the utilities provider’s stock.

A number of other research analysts have also recently issued reports on SHEN. BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, March 2nd. Wall Street Zen raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.50.

Shenandoah Telecommunications Trading Up 4.3%

Shares of Shenandoah Telecommunications stock opened at $15.04 on Thursday. Shenandoah Telecommunications has a 12-month low of $9.66 and a 12-month high of $15.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71. The stock has a market cap of $831.74 million, a PE ratio of -22.12 and a beta of 0.67. The company has a 50-day moving average of $13.95 and a two-hundred day moving average of $12.58.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of Shenandoah Telecommunications by 34.0% during the 4th quarter. Invesco Ltd. now owns 607,617 shares of the utilities provider’s stock worth $7,024,000 after purchasing an additional 154,115 shares in the last quarter. Caitlin John LLC increased its stake in shares of Shenandoah Telecommunications by 324.0% during the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 3,477 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Shenandoah Telecommunications by 10.8% during the 4th quarter. Empowered Funds LLC now owns 228,132 shares of the utilities provider’s stock worth $2,637,000 after purchasing an additional 22,242 shares in the last quarter. Millennium Management LLC increased its stake in shares of Shenandoah Telecommunications by 1,116.6% during the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider’s stock worth $12,569,000 after purchasing an additional 997,882 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Shenandoah Telecommunications by 6.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 353,132 shares of the utilities provider’s stock worth $4,082,000 after purchasing an additional 22,242 shares in the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

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.