BidaskClub upgraded shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) from a sell rating to a hold rating in a report issued on Wednesday morning.
Several other research firms also recently weighed in on SHEN. Zacks Investment Research upgraded Shenandoah Telecommunications from a hold rating to a buy rating and set a $36.00 target price on the stock in a research report on Thursday, May 11th. TheStreet downgraded Shenandoah Telecommunications from a b rating to a c+ rating in a research report on Thursday, May 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $34.67.
Shenandoah Telecommunications (NASDAQ:SHEN) traded down 0.17% on Wednesday, hitting $29.30. The stock had a trading volume of 23,473 shares. The stock’s market cap is $1.44 billion. The stock’s 50 day moving average is $31.16 and its 200 day moving average is $29.20. Shenandoah Telecommunications has a one year low of $22.05 and a one year high of $42.66.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, May 4th. The utilities provider reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Shenandoah Telecommunications had a positive return on equity of 9.79% and a negative net margin of 2.08%. The firm had revenue of $153.90 million for the quarter, compared to the consensus estimate of $156.86 million. The firm’s revenue for the quarter was up 66.2% compared to the same quarter last year. Analysts anticipate that Shenandoah Telecommunications will post $0.08 earnings per share for the current year.
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In other news, VP Raymond B. Ostroski sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $31.75, for a total value of $95,250.00. Following the transaction, the vice president now directly owns 21,621 shares in the company, valued at approximately $686,466.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.24% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Shenandoah Telecommunications during the first quarter worth approximately $105,000. SG Americas Securities LLC purchased a new position in Shenandoah Telecommunications during the first quarter worth approximately $105,000. Toronto Dominion Bank increased its position in Shenandoah Telecommunications by 4.1% in the first quarter. Toronto Dominion Bank now owns 5,860 shares of the utilities provider’s stock worth $165,000 after buying an additional 230 shares during the period. Suntrust Banks Inc. increased its position in Shenandoah Telecommunications by 7.6% in the first quarter. Suntrust Banks Inc. now owns 9,596 shares of the utilities provider’s stock worth $269,000 after buying an additional 681 shares during the period. Finally, Guggenheim Capital LLC purchased a new position in Shenandoah Telecommunications during the fourth quarter worth approximately $294,000. Institutional investors own 49.08% of the company’s stock.
Shenandoah Telecommunications Company Profile
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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