Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 12-Month Low at $29.76

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $29.76 and last traded at $29.82, with a volume of 1915 shares traded. The stock had previously closed at $30.31.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Raymond James upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Wednesday, August 7th. BidaskClub lowered shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research report on Friday, September 20th. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.00.

The stock’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $38.07. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 26.36 and a beta of 0.38. The company has a current ratio of 1.74, a quick ratio of 1.69 and a debt-to-equity ratio of 2.27.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $158.91 million for the quarter, compared to analyst estimates of $162.23 million. Shenandoah Telecommunications had a net margin of 9.00% and a return on equity of 12.75%. On average, equities research analysts forecast that Shenandoah Telecommunications will post 1.16 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SHEN. Point72 Asset Management L.P. acquired a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its position in shares of Shenandoah Telecommunications by 220.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,070 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 736 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Shenandoah Telecommunications by 622.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,000 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 1,723 shares in the last quarter. NumerixS Investment Technologies Inc boosted its position in shares of Shenandoah Telecommunications by 633.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Shenandoah Telecommunications during the 2nd quarter worth approximately $151,000. Institutional investors and hedge funds own 49.03% of the company’s stock.

Shenandoah Telecommunications Company Profile (NASDAQ:SHEN)

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

Further Reading: Green Investing

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