B. Riley Analysts Give Shenandoah Telecommunications (SHEN) a $50.00 Price Target

Shenandoah Telecommunications (NASDAQ:SHEN) has been assigned a $50.00 target price by equities research analysts at B. Riley in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the utilities provider’s stock. B. Riley’s price objective would indicate a potential upside of 20.57% from the stock’s current price.

SHEN has been the topic of a number of other reports. BidaskClub upgraded shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a report on Friday, October 19th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, TheStreet upgraded shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Shenandoah Telecommunications presently has an average rating of “Buy” and a consensus price target of $47.00.

Shenandoah Telecommunications stock traded up $0.07 during mid-day trading on Wednesday, reaching $41.47. 10,496 shares of the company’s stock were exchanged, compared to its average volume of 124,959. The firm has a market cap of $1.95 billion, a PE ratio of 159.35 and a beta of 0.24. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $43.28. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 1.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Tuesday, November 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.16. The company had revenue of $158.73 million for the quarter, compared to analyst estimates of $156.14 million. Shenandoah Telecommunications had a net margin of 12.60% and a return on equity of 6.34%. On average, equities research analysts anticipate that Shenandoah Telecommunications will post 0.57 earnings per share for the current fiscal year.

In other news, SVP Edward H. Mckay sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $36.75, for a total value of $73,500.00. Following the sale, the senior vice president now directly owns 17,959 shares in the company, valued at approximately $659,993.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Raymond B. Ostroski sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $36.53, for a total transaction of $328,770.00. Following the completion of the sale, the vice president now owns 24,364 shares in the company, valued at $890,016.92. The disclosure for this sale can be found here. Insiders sold a total of 21,215 shares of company stock worth $789,757 over the last 90 days. Company insiders own 6.84% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at $140,000. JNBA Financial Advisors purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at $186,000. Hartford Investment Management Co. purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at $251,000. Jane Street Group LLC purchased a new position in shares of Shenandoah Telecommunications in the 1st quarter valued at $280,000. Finally, Convergence Investment Partners LLC purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at $352,000. 47.14% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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