Shenandoah Telecommunications (NASDAQ:SHEN) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a sell rating to a hold rating in a research report released on Saturday.

Several other analysts also recently commented on SHEN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a research note on Friday, July 31st. BWS Financial reissued a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Up 0.5%

Shenandoah Telecommunications stock opened at $13.48 on Friday. The company has a market capitalization of $746.39 million, a P/E ratio of -17.28 and a beta of 0.68. Shenandoah Telecommunications has a fifty-two week low of $9.66 and a fifty-two week high of $17.34. The stock has a 50-day simple moving average of $13.78 and a 200-day simple moving average of $14.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.85 and a current ratio of 0.85.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share for the quarter, beating 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 business had revenue of $93.46 million during the quarter, compared to the consensus estimate of $92.83 million. Equities research analysts expect that Shenandoah Telecommunications will post -0.85 earnings per share for the current year.

Insiders Place Their Bets

In other Shenandoah Telecommunications news, CFO James J. Volk acquired 4,283 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $11.67 per share, with a total value of $49,982.61. Following the completion of the acquisition, the chief financial officer directly owned 92,671 shares of the company’s stock, valued at approximately $1,081,470.57. The trade was a 4.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 5.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. acquired a new position in shares of Shenandoah Telecommunications during the 1st quarter worth $158,000. Royal Bank of Canada lifted its stake in shares of Shenandoah Telecommunications by 11.8% in the first quarter. Royal Bank of Canada now owns 37,008 shares of the utilities provider’s stock valued at $465,000 after purchasing an additional 3,904 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Shenandoah Telecommunications by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after buying an additional 1,248 shares in the last quarter. Millennium Management LLC boosted its holdings in Shenandoah Telecommunications by 48.3% during the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock worth $5,644,000 after buying an additional 146,221 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $6,700,000 after buying an additional 116,040 shares during the period. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.