Shenandoah Telecommunications Co (SHEN) Lowered to C+ at TheStreet
A number of other equities research analysts have also weighed in on SHEN. BidaskClub raised shares of Shenandoah Telecommunications from a sell rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a hold rating to a sell rating in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Shenandoah Telecommunications from a sell rating to a hold rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Shenandoah Telecommunications has a consensus rating of Buy and an average price target of $35.00.
Shenandoah Telecommunications (NASDAQ:SHEN) traded down $0.55 during mid-day trading on Friday, reaching $34.10. 85,700 shares of the company were exchanged, compared to its average volume of 183,847. The firm has a market cap of $1,707.02, a PE ratio of 138.60 and a beta of 0.70. Shenandoah Telecommunications has a twelve month low of $24.95 and a twelve month high of $41.80. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.28 and a current ratio of 1.34.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.08. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. The firm had revenue of $151.80 million for the quarter, compared to analyst estimates of $153.64 million. During the same period in the previous year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. analysts predict that Shenandoah Telecommunications will post 0.16 EPS for the current fiscal year.
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The business also recently announced an annual dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a dividend of $0.26 per share. This represents a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, November 2nd. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.25. Shenandoah Telecommunications’s payout ratio is presently 216.67%.
In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $38.93, for a total transaction of $1,790,780.00. Following the transaction, the insider now owns 118,047 shares in the company, valued at $4,595,569.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 7.24% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elk Creek Partners LLC raised its holdings in Shenandoah Telecommunications by 2.8% during the third quarter. Elk Creek Partners LLC now owns 274,587 shares of the utilities provider’s stock worth $10,215,000 after buying an additional 7,487 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Shenandoah Telecommunications by 1.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,202,254 shares of the utilities provider’s stock worth $81,925,000 after buying an additional 30,156 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Shenandoah Telecommunications by 5.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 221,095 shares of the utilities provider’s stock worth $8,225,000 after buying an additional 11,821 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Shenandoah Telecommunications by 28.1% during the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock worth $3,196,000 after buying an additional 18,862 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in Shenandoah Telecommunications during the third quarter worth $221,000. Hedge funds and other institutional investors own 49.36% of the company’s stock.
Shenandoah Telecommunications Company Profile
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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