Price T Rowe Associates Inc. MD lifted its position in Shenandoah Telecommunications (NASDAQ:SHEN) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 30,409 shares of the utilities provider’s stock after acquiring an additional 2,964 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Shenandoah Telecommunications were worth $1,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of SHEN. FMR LLC lifted its stake in shares of Shenandoah Telecommunications by 13.5% in the 1st quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock valued at $42,346,000 after purchasing an additional 113,516 shares during the period. First Trust Advisors LP lifted its stake in shares of Shenandoah Telecommunications by 121.0% in the 1st quarter. First Trust Advisors LP now owns 119,473 shares of the utilities provider’s stock valued at $5,300,000 after purchasing an additional 65,409 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Shenandoah Telecommunications by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 101,751 shares of the utilities provider’s stock valued at $4,967,000 after purchasing an additional 14,247 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Shenandoah Telecommunications by 4.4% in the 1st quarter. Ameriprise Financial Inc. now owns 347,350 shares of the utilities provider’s stock valued at $16,954,000 after purchasing an additional 14,723 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at $379,000. Hedge funds and other institutional investors own 55.01% of the company’s stock.
Several equities research analysts recently commented on the stock. TheStreet lowered shares of Shenandoah Telecommunications from a “c-” rating to a “d+” rating in a report on Monday, August 16th. Raymond James raised shares of Shenandoah Telecommunications from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 4th. They noted that the move was a valuation call. B. Riley boosted their price target on shares of Shenandoah Telecommunications from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, November 1st. Finally, Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Wednesday, October 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Shenandoah Telecommunications currently has an average rating of “Hold” and an average target price of $44.00.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, October 28th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.24. Shenandoah Telecommunications had a net margin of 434.98% and a return on equity of 2.07%. The business had revenue of $62.24 million during the quarter, compared to analyst estimates of $61.91 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, equities analysts expect that Shenandoah Telecommunications will post 0.28 EPS for the current fiscal year.
The firm also recently announced an annual dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 8th will be issued a dividend of $0.07 per share. This represents a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, November 5th. Shenandoah Telecommunications’s payout ratio is 0.34%.
Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.
Further Reading: Understanding debt-to-equity ratio in fundamental analysis
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