BidaskClub Downgrades Shenandoah Telecommunications (NASDAQ:SHEN) to Sell

Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, April 1st, BidAskClub reports.

SHEN has been the subject of several other reports. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. B. Riley boosted their price target on shares of Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, BWS Financial reissued a “buy” rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $52.50.

SHEN stock traded down $0.11 during midday trading on Monday, hitting $42.20. The company’s stock had a trading volume of 97,018 shares, compared to its average volume of 165,622. The company has a quick ratio of 2.31, a current ratio of 2.37 and a debt-to-equity ratio of 1.70. Shenandoah Telecommunications has a 52-week low of $29.92 and a 52-week high of $51.41. The stock has a market capitalization of $2.12 billion, a PE ratio of 45.38 and a beta of 0.48.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The business had revenue of $161.48 million during the quarter, compared to analysts’ expectations of $160.76 million. Shenandoah Telecommunications had a net margin of 6.88% and a return on equity of 10.05%. Analysts expect that Shenandoah Telecommunications will post 1.35 EPS for the current fiscal year.

In related news, VP Raymond B. Ostroski sold 10,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $45.76, for a total value of $457,600.00. Following the completion of the sale, the vice president now directly owns 18,575 shares of the company’s stock, valued at $849,992. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its stake in Shenandoah Telecommunications by 51.4% in the fourth quarter. Bank of Montreal Can now owns 1,002 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 340 shares during the period. TIAA CREF Investment Management LLC increased its stake in shares of Shenandoah Telecommunications by 0.4% during the third quarter. TIAA CREF Investment Management LLC now owns 104,166 shares of the utilities provider’s stock worth $4,036,000 after acquiring an additional 428 shares during the period. Victory Capital Management Inc. increased its stake in shares of Shenandoah Telecommunications by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 11,162 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 434 shares during the period. Principal Financial Group Inc. increased its stake in shares of Shenandoah Telecommunications by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock worth $756,000 after acquiring an additional 452 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth about $40,000. Institutional investors own 49.58% of the company’s stock.

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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