BidaskClub Lowers Shenandoah Telecommunications (NASDAQ:SHEN) to Sell

BidaskClub downgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a hold rating to a sell rating in a research report released on Thursday, BidAskClub reports.

A number of other analysts have also recently commented on SHEN. Zacks Investment Research upgraded Shenandoah Telecommunications from a hold rating to a buy rating and set a $60.00 price target for the company in a research report on Saturday, August 8th. Raymond James restated a hold rating on shares of Shenandoah Telecommunications in a research note on Friday, August 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Shenandoah Telecommunications currently has an average rating of Hold and an average price target of $50.00.

Shares of SHEN stock opened at $47.85 on Thursday. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 1.32. Shenandoah Telecommunications has a 12 month low of $29.61 and a 12 month high of $59.93. The stock has a market cap of $2.39 billion, a P/E ratio of 33.94 and a beta of 0.30. The company has a 50 day simple moving average of $53.45 and a two-hundred day simple moving average of $50.30.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.23. Shenandoah Telecommunications had a net margin of 11.02% and a return on equity of 14.53%. The firm had revenue of $169.53 million during the quarter, compared to the consensus estimate of $156.78 million. As a group, equities analysts forecast that Shenandoah Telecommunications will post 1.58 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA boosted its stake in Shenandoah Telecommunications by 363.4% in the 2nd quarter. Glenmede Trust Co. NA now owns 658 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 516 shares during the period. Macquarie Group Ltd. bought a new position in shares of Shenandoah Telecommunications during the second quarter worth $84,000. Paradigm Asset Management Co. LLC bought a new position in shares of Shenandoah Telecommunications during the second quarter worth $116,000. Russell Investments Group Ltd. grew its stake in Shenandoah Telecommunications by 47.0% during the second quarter. Russell Investments Group Ltd. now owns 3,158 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 1,009 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Shenandoah Telecommunications in the 2nd quarter valued at $161,000. 54.63% of the stock is currently owned by institutional investors.

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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