Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 12-Month Low – What’s Next?

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) hit a new 52-week low on Wednesday. The stock traded as low as $9.66 and last traded at $9.6560, with a volume of 214,958 shares traded. The stock had previously closed at $10.14.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Wall Street Zen raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a report on Friday, July 31st. Finally, BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shenandoah Telecommunications currently has an average rating of “Hold” and an average price target of $27.50.

Shenandoah Telecommunications Price Performance

The stock has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $13.58. The company has a market capitalization of $548.99 million, a PE ratio of -12.72 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%. The company had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.83 million. Equities analysts anticipate that Shenandoah Telecommunications Co will post -0.85 earnings per share for the current year.

Shenandoah Telecommunications Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 2nd will be paid a $0.12 dividend. This represents a yield of 123.0%. The ex-dividend date of this dividend is Monday, November 2nd. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.11. Shenandoah Telecommunications’s dividend payout ratio (DPR) is -14.10%.

Insider Transactions at Shenandoah Telecommunications

In related news, CFO James Volk acquired 4,283 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $11.67 per share, with a total value of $49,982.61. Following the completion of the purchase, the chief financial officer directly owned 92,671 shares in the company, valued at approximately $1,081,470.57. The trade was a 4.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.

Hedge Funds Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently modified their holdings of the company. Gabelli Funds LLC boosted its holdings in Shenandoah Telecommunications by 0.5% in the 1st quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock worth $3,077,000 after acquiring an additional 1,000 shares during the period. Versant Capital Management Inc grew its stake in Shenandoah Telecommunications by 71.7% in the third quarter. Versant Capital Management Inc now owns 3,675 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 1,535 shares in the last quarter. Quantinno Capital Management LP raised its stake in Shenandoah Telecommunications by 1.8% during the first quarter. Quantinno Capital Management LP now owns 97,435 shares of the utilities provider’s stock valued at $1,502,000 after buying an additional 1,762 shares in the last quarter. Graves Light Lenhart Wealth Inc. lifted its holdings in Shenandoah Telecommunications by 11.4% during the 2nd quarter. Graves Light Lenhart Wealth Inc. now owns 24,140 shares of the utilities provider’s stock worth $364,000 after buying an additional 2,475 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Shenandoah Telecommunications by 17.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,592 shares of the utilities provider’s stock valued at $364,000 after acquiring an additional 3,465 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.