BidaskClub Downgrades Shenandoah Telecommunications (NASDAQ:SHEN) to Strong Sell

BidaskClub cut shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a sell rating to a strong sell rating in a research report report published on Friday, September 20th, BidAskClub reports.

A number of other research firms also recently commented on SHEN. Raymond James raised Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $44.00 target price for the company in a report on Wednesday, August 7th. TheStreet downgraded Shenandoah Telecommunications from a b- rating to a c rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $49.00.

SHEN opened at $30.90 on Friday. The business’s 50-day moving average is $32.63 and its two-hundred day moving average is $39.13. Shenandoah Telecommunications has a 1 year low of $30.70 and a 1 year high of $51.41. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.74 and a quick ratio of 1.69. The firm has a market capitalization of $1.63 billion, a PE ratio of 28.39 and a beta of 0.42.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $158.91 million for the quarter, compared to analyst estimates of $162.23 million. Shenandoah Telecommunications had a return on equity of 12.75% and a net margin of 9.00%. As a group, sell-side analysts expect that Shenandoah Telecommunications will post 1.16 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in Shenandoah Telecommunications by 12.4% during the second quarter. Royal Bank of Canada now owns 27,167 shares of the utilities provider’s stock valued at $1,046,000 after acquiring an additional 2,988 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Shenandoah Telecommunications in the second quarter valued at approximately $18,920,000. Price T Rowe Associates Inc. MD increased its position in shares of Shenandoah Telecommunications by 5.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 69,170 shares of the utilities provider’s stock valued at $2,664,000 after buying an additional 3,639 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Shenandoah Telecommunications by 1.0% in the second quarter. UBS Asset Management Americas Inc. now owns 35,799 shares of the utilities provider’s stock valued at $1,379,000 after buying an additional 346 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Shenandoah Telecommunications by 13.3% in the second quarter. Cubist Systematic Strategies LLC now owns 22,449 shares of the utilities provider’s stock valued at $865,000 after buying an additional 2,642 shares in the last quarter. Institutional investors own 49.03% of the company’s stock.

About Shenandoah Telecommunications

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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