Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 52-Week Low at $32.28

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $32.28 and last traded at $32.31, with a volume of 1155 shares. The stock had previously closed at $32.76.

A number of equities research analysts recently commented on the company. BidaskClub cut Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 6th. Macquarie reissued a “hold” rating and issued a $47.00 target price on shares of Shenandoah Telecommunications in a research note on Sunday, May 12th. Raymond James raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, August 7th. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, TheStreet cut Shenandoah Telecommunications from a “b-” rating to a “c” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $49.00.

The company has a debt-to-equity ratio of 2.27, a current ratio of 1.74 and a quick ratio of 1.69. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 34.83 and a beta of 0.33. The business has a 50 day simple moving average of $37.07 and a 200-day simple moving average of $41.86.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Shenandoah Telecommunications had a return on equity of 12.75% and a net margin of 9.00%. The firm had revenue of $158.91 million during the quarter, compared to analysts’ expectations of $162.23 million. As a group, equities analysts predict that Shenandoah Telecommunications will post 1.16 earnings per share for the current year.

A number of large investors have recently bought and sold shares of SHEN. Point72 Asset Management L.P. acquired a new position in Shenandoah Telecommunications in the second quarter valued at about $31,000. Tower Research Capital LLC TRC lifted its holdings in shares of Shenandoah Telecommunications by 220.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,070 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 736 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Shenandoah Telecommunications by 622.0% in the second quarter. Meeder Asset Management Inc. now owns 2,000 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 1,723 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in shares of Shenandoah Telecommunications by 633.3% in the first quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Shenandoah Telecommunications in the first quarter valued at about $113,000. 48.03% of the stock is owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications (NASDAQ:SHEN)

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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