Shenandoah Telecommunications (NASDAQ:SHEN) Stock Gets Downgrade from Wall Street Zen

Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

SHEN has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Thursday. BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.50.

Shenandoah Telecommunications Stock Performance

NASDAQ SHEN opened at $10.17 on Friday. The business’s 50 day moving average is $11.36 and its two-hundred day moving average is $13.40. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $563.11 million, a price-to-earnings ratio of -13.21 and a beta of 0.85. Shenandoah Telecommunications has a 12-month low of $9.13 and a 12-month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, October 28th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $93.93 million for the quarter, compared to analyst estimates of $94.10 million. Shenandoah Telecommunications had a negative net margin of 10.68% and a negative return on equity of 4.58%. Research analysts expect that Shenandoah Telecommunications will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Shenandoah Telecommunications in the 2nd quarter valued at about $106,907,000. Gamco Investors INC. ET AL raised its position in shares of Shenandoah Telecommunications by 2.6% in the 1st quarter. Gamco Investors INC. ET AL now owns 270,000 shares of the utilities provider’s stock valued at $4,163,000 after acquiring an additional 6,874 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Shenandoah Telecommunications during the 2nd quarter worth approximately $4,041,000. Empowered Funds LLC acquired a new position in shares of Shenandoah Telecommunications during the 2nd quarter worth about $3,974,000. Finally, Principal Financial Group Inc. lifted its position in Shenandoah Telecommunications by 2.0% during the first quarter. Principal Financial Group Inc. now owns 221,700 shares of the utilities provider’s stock worth $3,419,000 after acquiring an additional 4,340 shares during the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.