Shenandoah Telecommunications (SHEN) Receives “Hold” Rating from Macquarie

Macquarie reaffirmed their hold rating on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a report published on Sunday, AnalystRatings.com reports. Macquarie currently has a $47.00 target price on the utilities provider’s stock.

Several other research firms have also weighed in on SHEN. BidaskClub raised Shenandoah Telecommunications from a hold rating to a buy rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered Shenandoah Telecommunications from a hold rating to a sell rating in a research note on Wednesday, March 13th. B. Riley lifted their price objective on Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a buy rating in a research note on Friday, March 1st. BWS Financial reaffirmed a buy rating on shares of Shenandoah Telecommunications in a research note on Monday, January 28th. Finally, ValuEngine lowered Shenandoah Telecommunications from a strong-buy rating to a buy rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Shenandoah Telecommunications has a consensus rating of Hold and an average price target of $50.67.

NASDAQ:SHEN traded down $0.71 during mid-day trading on Friday, reaching $40.78. The company’s stock had a trading volume of 5,308 shares, compared to its average volume of 132,064. The company has a current ratio of 2.37, a quick ratio of 2.31 and a debt-to-equity ratio of 1.70. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $51.41. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 43.85 and a beta of 0.42.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $158.84 million for the quarter, compared to analyst estimates of $163.97 million. Shenandoah Telecommunications had a return on equity of 11.98% and a net margin of 8.23%. As a group, research analysts forecast that Shenandoah Telecommunications will post 1.35 earnings per share for the current fiscal year.

In related news, VP Raymond B. Ostroski sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $45.76, for a total transaction of $457,600.00. Following the sale, the vice president now directly owns 18,575 shares in the company, valued at approximately $849,992. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Shenandoah Telecommunications by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 44,957 shares of the utilities provider’s stock valued at $1,990,000 after buying an additional 3,498 shares during the period. Mackay Shields LLC purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $1,017,000. First Quadrant L P CA purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $667,000. PNC Financial Services Group Inc. purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $5,541,000. Finally, Graves Light Private Wealth Management Inc. purchased a new stake in Shenandoah Telecommunications during the 4th quarter worth approximately $2,444,000. Institutional investors and hedge funds own 49.31% 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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