BidaskClub Lowers Shenandoah Telecommunications (NASDAQ:SHEN) to Strong Sell

BidaskClub lowered shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a sell rating to a strong sell rating in a research note published on Friday morning, BidAskClub reports.

Other equities analysts have also issued reports about the company. Raymond James raised Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $44.00 price objective for the company in a report on Wednesday, August 7th. TheStreet lowered Shenandoah Telecommunications from a b- rating to a c rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $49.00.

Shares of SHEN stock opened at $32.27 on Friday. Shenandoah Telecommunications has a 12-month low of $30.81 and a 12-month high of $51.41. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 34.70 and a beta of 0.42. The business has a 50 day simple moving average of $33.19 and a 200 day simple moving average of $39.60. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.74 and a quick ratio of 1.69.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Shenandoah Telecommunications had a return on equity of 12.75% and a net margin of 9.00%. The business had revenue of $158.91 million during the quarter, compared to analyst estimates of $162.23 million. On average, equities analysts anticipate that Shenandoah Telecommunications will post 1.16 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of SHEN. Point72 Asset Management L.P. acquired a new stake in Shenandoah Telecommunications in the second quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its position in 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 worth $41,000 after purchasing an additional 736 shares during the period. Meeder Asset Management Inc. lifted its position 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 valued at $77,000 after acquiring an additional 1,723 shares during the last quarter. NumerixS Investment Technologies Inc lifted its position 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 valued at $98,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Shenandoah Telecommunications during the 1st quarter valued at $113,000. 49.03% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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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