BWS Financial Reaffirms Buy Rating for Shenandoah Telecommunications (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN)‘s stock had its “buy” rating reissued by analysts at BWS Financial in a report issued on Monday, Benzinga reports. They presently have a $26.00 target price on the utilities provider’s stock. BWS Financial’s price objective points to a potential upside of 92.17% from the company’s previous close.

Shenandoah Telecommunications Stock Up 0.4 %

Shares of SHEN traded up $0.06 during midday trading on Monday, hitting $13.53. 90,972 shares of the company’s stock traded hands, compared to its average volume of 150,103. Shenandoah Telecommunications has a 1 year low of $11.87 and a 1 year high of $25.51. The firm’s fifty day moving average is $16.32 and its 200-day moving average is $19.71. The company has a current ratio of 4.68, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $682.59 million, a price-to-earnings ratio of 3.13 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. Shenandoah Telecommunications had a return on equity of 0.27% and a net margin of 77.44%. The firm had revenue of $72.51 million for the quarter, compared to the consensus estimate of $71.85 million. During the same period in the prior year, the firm earned ($0.04) EPS. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RWA Wealth Partners LLC acquired a new stake in Shenandoah Telecommunications in the fourth quarter valued at approximately $2,583,000. Illinois Municipal Retirement Fund purchased a new stake in Shenandoah Telecommunications in the 3rd quarter worth approximately $650,000. American Century Companies Inc. lifted its position in Shenandoah Telecommunications by 25.6% during the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after buying an additional 90,695 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Shenandoah Telecommunications by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock worth $14,616,000 after purchasing an additional 51,827 shares during the period. Finally, Corton Capital Inc. lifted its holdings in shares of Shenandoah Telecommunications by 23.7% during the 3rd quarter. Corton Capital Inc. now owns 23,881 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 4,582 shares in the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.