Shenandoah Telecommunications Co. (NASDAQ:SHEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 recently weighed in on the company. FBR & Co cut Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $31.00 to $35.00 in a report on Monday, August 8th. Raymond James Financial Inc. upgraded Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Tuesday, August 16th. Finally, TheStreet cut Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, August 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.20.
Shenandoah Telecommunications (NASDAQ:SHEN) opened at 28.65 on Tuesday. Shenandoah Telecommunications has a 12-month low of $19.18 and a 12-month high of $42.66. The stock has a market capitalization of $1.40 billion, a P/E ratio of 124.03 and a beta of 0.99. The firm’s 50-day moving average price is $26.03 and its 200 day moving average price is $30.69.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Monday, November 7th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.30. The company had revenue of $156.80 million for the quarter, compared to analyst estimates of $161.09 million. Shenandoah Telecommunications had a return on equity of 15.63% and a net margin of 2.44%. On average, equities analysts anticipate that Shenandoah Telecommunications will post ($0.07) EPS for the current year.
The firm also recently disclosed an annual dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be issued a $0.25 dividend. This represents a yield of 0.96%. The ex-dividend date is Wednesday, November 2nd. Shenandoah Telecommunications’s dividend payout ratio is presently 113.64%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Shenandoah Telecommunications by 26.6% in the second quarter. Vanguard Group Inc. now owns 3,360,673 shares of the company’s stock worth $131,268,000 after buying an additional 705,073 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Shenandoah Telecommunications by 8.0% in the third quarter. BlackRock Fund Advisors now owns 2,170,266 shares of the company’s stock worth $59,053,000 after buying an additional 159,881 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Shenandoah Telecommunications by 3.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,183,569 shares of the company’s stock worth $32,205,000 after buying an additional 34,445 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Shenandoah Telecommunications during the third quarter worth about $30,344,000. Finally, Crow Point Partners LLC purchased a new stake in shares of Shenandoah Telecommunications during the third quarter worth about $25,577,000. Hedge funds and other institutional investors own 47.61% of the company’s stock.
Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company.