Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 1-Year Low – Here’s Why

Shenandoah Telecommunications Co (NASDAQ:SHEN) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $9.67 and last traded at $9.7090, with a volume of 67296 shares traded. The stock had previously closed at $10.06.

Analysts Set New Price Targets

Several brokerages have issued reports on SHEN. Wall Street Zen lowered shares of Shenandoah Telecommunications from a “hold” rating to a “strong sell” rating in a research note on Sunday, August 10th. BWS Financial reiterated a “buy” rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Shenandoah Telecommunications has an average rating of “Hold” and a consensus price target of $26.00.

Shenandoah Telecommunications Price Performance

The company has a market capitalization of $584.66 million, a P/E ratio of -16.90 and a beta of 0.80. The company’s 50-day moving average price is $12.60 and its two-hundred day moving average price is $13.07. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.73 and a quick ratio of 0.73.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Wednesday, October 29th. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.02. Shenandoah Telecommunications had a negative net margin of 9.98% and a negative return on equity of 4.23%. The firm had revenue of $89.80 million during the quarter, compared to the consensus estimate of $90.95 million. Shenandoah Telecommunications has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Shenandoah Telecommunications Co will post -0.49 EPS for the current year.

Shenandoah Telecommunications Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.11 dividend. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.10. The ex-dividend date is Friday, November 7th. This represents a yield of 101.0%. Shenandoah Telecommunications’s dividend payout ratio is presently -17.46%.

Insider Buying and Selling

In related news, major shareholder Ecp Fiber Holdings Gp, Llc acquired 13,541 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was purchased at an average cost of $13.29 per share, with a total value of $179,959.89. Following the acquisition, the insider directly owned 3,455,302 shares of the company’s stock, valued at approximately $45,920,963.58. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ecp Controlco, Llc purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average cost of $13.45 per share, with a total value of $40,350.00. Following the purchase, the insider owned 3,441,252 shares of the company’s stock, valued at $46,284,839.40. This represents a 0.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 63,137 shares of company stock worth $837,413 in the last three months. 4.51% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of large investors have recently modified their holdings of SHEN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Shenandoah Telecommunications by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,831 shares of the utilities provider’s stock worth $162,000 after buying an additional 855 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Shenandoah Telecommunications by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock valued at $256,000 after purchasing an additional 986 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Shenandoah Telecommunications by 2.1% during the 2nd quarter. Intech Investment Management LLC now owns 50,706 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 1,045 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Shenandoah Telecommunications by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after purchasing an additional 1,248 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Shenandoah Telecommunications by 3.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 42,600 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.