Shenandoah Telecommunications (NASDAQ:SHEN) Reaches New 12-Month Low at $32.76

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $32.76 and last traded at $32.79, with a volume of 92065 shares. The stock had previously closed at $33.72.

SHEN has been the topic of several research reports. Macquarie reiterated a “hold” rating and issued a $47.00 price target on shares of Shenandoah Telecommunications in a research report on Sunday, May 12th. Raymond James upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, August 7th. TheStreet cut shares of Shenandoah Telecommunications from a “b-” rating to a “c” rating in a research report on Tuesday, May 28th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, BidaskClub cut shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $49.00.

The company has a quick ratio of 1.69, a current ratio of 1.74 and a debt-to-equity ratio of 2.27. The firm’s 50-day simple moving average is $37.67 and its 200 day simple moving average is $42.15. The stock has a market capitalization of $1.68 billion, a P/E ratio of 35.26 and a beta of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $158.91 million for the quarter, compared to analysts’ expectations of $162.23 million. Shenandoah Telecommunications had a net margin of 9.00% and a return on equity of 12.75%. As a group, equities analysts anticipate that Shenandoah Telecommunications will post 1.16 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Federated Investors Inc. PA grew its stake in Shenandoah Telecommunications by 13.4% during the 1st quarter. Federated Investors Inc. PA now owns 453,185 shares of the utilities provider’s stock valued at $20,104,000 after acquiring an additional 53,445 shares in the last quarter. Creative Planning grew its stake in Shenandoah Telecommunications by 3.9% during the 1st quarter. Creative Planning now owns 137,669 shares of the utilities provider’s stock valued at $6,107,000 after acquiring an additional 5,175 shares in the last quarter. Legal & General Group Plc grew its stake in Shenandoah Telecommunications by 5.6% during the 4th quarter. Legal & General Group Plc now owns 18,608 shares of the utilities provider’s stock valued at $823,000 after acquiring an additional 991 shares in the last quarter. Menta Capital LLC grew its stake in Shenandoah Telecommunications by 103.6% during the 1st quarter. Menta Capital LLC now owns 12,419 shares of the utilities provider’s stock valued at $551,000 after acquiring an additional 6,319 shares in the last quarter. Finally, ETF Managers Group LLC purchased a new position in Shenandoah Telecommunications during the 1st quarter valued at about $273,000. 49.28% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications (NASDAQ:SHEN)

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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