Shenandoah Telecommunications (NASDAQ:SHEN) Lifted to “Outperform” at Raymond James

Shenandoah Telecommunications (NASDAQ:SHEN) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a $44.00 price objective on the utilities provider’s stock. Raymond James’ price target suggests a potential upside of 29.49% from the company’s current price.

Several other analysts have also recently commented on the company. BidaskClub cut Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a report on Tuesday. Macquarie restated a “hold” rating and set a $47.00 price target on shares of Shenandoah Telecommunications in a report on Sunday, May 12th. TheStreet cut Shenandoah Telecommunications from a “b-” rating to a “c” rating in a report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $49.00.

SHEN stock traded down $1.31 during trading on Wednesday, hitting $33.98. The company had a trading volume of 32,668 shares, compared to its average volume of 153,022. The stock has a 50-day moving average price of $38.56. Shenandoah Telecommunications has a one year low of $32.96 and a one year high of $51.41. The firm has a market cap of $1.72 billion, a PE ratio of 36.54 and a beta of 0.33. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.52 and a current ratio of 1.58.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Shenandoah Telecommunications had a return on equity of 12.86% and a net margin of 9.00%. The business had revenue of $158.91 million for the quarter, compared to analysts’ expectations of $162.23 million. Equities analysts expect that Shenandoah Telecommunications will post 1.18 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of SHEN. Principal Financial Group Inc. raised its position in Shenandoah Telecommunications by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock valued at $756,000 after buying an additional 452 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Shenandoah Telecommunications by 5.6% during the 4th quarter. Legal & General Group Plc now owns 18,608 shares of the utilities provider’s stock worth $823,000 after acquiring an additional 991 shares during the period. Meeder Asset Management Inc. grew its stake in shares of Shenandoah Telecommunications by 622.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 2,000 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 1,723 shares during the period. NumerixS Investment Technologies Inc grew its stake in shares of Shenandoah Telecommunications by 633.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 1,900 shares during the period. Finally, Swiss National Bank grew its stake in shares of Shenandoah Telecommunications by 2.2% during the 2nd quarter. Swiss National Bank now owns 87,672 shares of the utilities provider’s stock worth $3,377,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 48.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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