Shenandoah Telecommunications (NASDAQ:SHEN) Trading 7.8% Higher

Shenandoah Telecommunications (NASDAQ:SHEN)’s stock price traded up 7.8% during trading on Tuesday . The company traded as high as $48.52 and last traded at $48.30, 219,630 shares changed hands during mid-day trading. A decline of 9% from the average session volume of 240,670 shares. The stock had previously closed at $44.80.

Several equities analysts have recently commented on SHEN shares. B. Riley upped their price target on Shenandoah Telecommunications from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Raymond James downgraded Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating in a research report on Monday, January 27th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Tuesday, March 10th. TheStreet raised shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research report on Wednesday, November 27th. Finally, BidaskClub raised shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Shenandoah Telecommunications has a consensus rating of “Buy” and a consensus price target of $46.75.

The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.58 and a current ratio of 1.62. The stock’s 50-day moving average is $45.20 and its two-hundred day moving average is $38.76. The stock has a market cap of $2.23 billion, a PE ratio of 38.78 and a beta of 0.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Shenandoah Telecommunications had a net margin of 8.67% and a return on equity of 11.81%. The firm had revenue of $161.00 million during the quarter, compared to analysts’ expectations of $161.23 million. Analysts forecast that Shenandoah Telecommunications will post 1.4 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SHEN. Mutual of America Capital Management LLC grew its position in Shenandoah Telecommunications by 0.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 144,293 shares of the utilities provider’s stock valued at $6,004,000 after acquiring an additional 657 shares in the last quarter. Amalgamated Bank increased its stake in Shenandoah Telecommunications by 9.1% during the fourth quarter. Amalgamated Bank now owns 9,245 shares of the utilities provider’s stock worth $385,000 after purchasing an additional 771 shares during the period. Toronto Dominion Bank lifted its position in shares of Shenandoah Telecommunications by 26.2% during the fourth quarter. Toronto Dominion Bank now owns 3,907 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 810 shares in the last quarter. Mariner LLC lifted its position in shares of Shenandoah Telecommunications by 4.9% during the fourth quarter. Mariner LLC now owns 17,497 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 822 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Shenandoah Telecommunications by 1.2% in the third quarter. California State Teachers Retirement System now owns 74,722 shares of the utilities provider’s stock valued at $2,374,000 after purchasing an additional 892 shares during the period. 58.34% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile (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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