Trade Report: Today, Shenandoah Telecommunications Co. (SHEN) Stock Rating Upgrade by FBR & Co

Today, Shenandoah Telecommunications Co. (SHEN) Stock Rating Upgrade by FBR & Co

Shenandoah Telecommunications Co. (NASDAQ:SHEN) was upgraded by research analysts at FBR & Co from a “market perform” rating to an “outperform” rating in a report released on Tuesday. The brokerage presently has a $35.00 price objective on the stock. FBR & Co’s target price would suggest a potential upside of 25.45% from the company’s previous close.

SHEN has been the subject of a number of other reports. TheStreet cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th. Zacks Investment Research raised Shenandoah Telecommunications from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, August 10th. Finally, Raymond James Financial Inc. raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.20.

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) traded down 0.18% during mid-day trading on Tuesday, reaching $27.90. The company’s stock had a trading volume of 60,650 shares. Shenandoah Telecommunications has a 52-week low of $19.18 and a 52-week high of $42.66. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 120.78 and a beta of 0.99. The firm has a 50 day moving average price of $25.96 and a 200 day moving average price of $30.70.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.14 by $0.30. Shenandoah Telecommunications had a net margin of 2.44% and a return on equity of 15.63%. The company had revenue of $156.80 million for the quarter, compared to analyst estimates of $161.09 million. On average, equities analysts predict that Shenandoah Telecommunications will post ($0.07) EPS for the current fiscal year.

The firm also recently disclosed an annual dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a dividend yield of 0.96%. Shenandoah Telecommunications’s payout ratio is 113.64%.

Several hedge funds have recently added to or reduced their stakes in SHEN. BlackRock Inc. boosted its stake in Shenandoah Telecommunications by 479.8% in the first quarter. BlackRock Inc. now owns 3,798 shares of the company’s stock valued at $102,000 after buying an additional 3,143 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Shenandoah Telecommunications by 77.4% in the second quarter. Victory Capital Management Inc. now owns 2,730 shares of the company’s stock valued at $107,000 after buying an additional 1,191 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Shenandoah Telecommunications by 76.1% in the third quarter. BNP Paribas Arbitrage SA now owns 3,968 shares of the company’s stock valued at $108,000 after buying an additional 1,715 shares during the last quarter. IFP Advisors Inc purchased a new stake in Shenandoah Telecommunications during the second quarter valued at $109,000. Finally, Toronto Dominion Bank boosted its stake in Shenandoah Telecommunications by 1,196.1% in the third quarter. Toronto Dominion Bank now owns 4,640 shares of the company’s stock valued at $126,000 after buying an additional 4,282 shares during the last quarter. 43.85% of the stock is owned by institutional investors.

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