Zacks Investment Research cut shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) from a hold rating to a sell rating in a report published on Tuesday.
According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “
Several other research analysts have also commented on the stock. BidaskClub upgraded shares of Shenandoah Telecommunications from a sell rating to a hold rating in a research note on Monday, July 24th. TheStreet lowered shares of Shenandoah Telecommunications from a b rating to a c+ rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $34.67.
Shares of Shenandoah Telecommunications (NASDAQ SHEN) opened at 35.40 on Tuesday. The company’s 50 day moving average is $31.21 and its 200 day moving average is $29.92. The company’s market cap is $1.74 billion. Shenandoah Telecommunications has a 12 month low of $22.05 and a 12 month high of $36.80.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $153.30 million during the quarter, compared to analyst estimates of $153.83 million. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts predict that Shenandoah Telecommunications will post $0.10 EPS for the current fiscal year.
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In related news, VP Raymond B. Ostroski sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $31.75, for a total transaction of $95,250.00. Following the completion of the transaction, the vice president now owns 21,621 shares in the company, valued at approximately $686,466.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 7.24% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Shenandoah Telecommunications by 0.6% in the second quarter. Renaissance Technologies LLC now owns 1,052,800 shares of the utilities provider’s stock valued at $32,321,000 after buying an additional 6,500 shares during the period. Parametric Portfolio Associates LLC raised its position in Shenandoah Telecommunications by 10.3% in the second quarter. Parametric Portfolio Associates LLC now owns 56,674 shares of the utilities provider’s stock valued at $1,740,000 after buying an additional 5,286 shares during the period. Suntrust Banks Inc. raised its position in shares of Shenandoah Telecommunications by 2.2% in the second quarter. Suntrust Banks Inc. now owns 9,805 shares of the utilities provider’s stock worth $301,000 after buying an additional 209 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Shenandoah Telecommunications by 3.9% in the second quarter. California Public Employees Retirement System now owns 93,800 shares of the utilities provider’s stock worth $2,880,000 after buying an additional 3,500 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Shenandoah Telecommunications by 1.3% in the second quarter. Vanguard Group Inc. now owns 3,720,805 shares of the utilities provider’s stock worth $114,229,000 after buying an additional 47,212 shares during the last quarter. Hedge funds and other institutional investors own 49.61% of the company’s stock.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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