Shenandoah Telecommunications Co (SHEN) Cut to “C+” at TheStreet

TheStreet cut shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) from a b- rating to a c+ rating in a report issued on Friday morning.

Several other research analysts have also issued reports on SHEN. ValuEngine upgraded Shenandoah Telecommunications from a sell rating to a hold rating in a report on Thursday, August 10th. Zacks Investment Research lowered Shenandoah Telecommunications from a hold rating to a sell rating in a report on Tuesday, August 8th. Finally, BidaskClub upgraded Shenandoah Telecommunications from a hold rating to a buy rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $35.00.

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) traded down $0.55 during trading hours on Friday, reaching $34.10. The company’s stock had a trading volume of 85,700 shares, compared to its average volume of 183,847. The company has a market capitalization of $1,707.02, a price-to-earnings ratio of 138.60 and a beta of 0.70. The company has a current ratio of 1.34, a quick ratio of 1.28 and a debt-to-equity ratio of 2.60. Shenandoah Telecommunications has a 1-year low of $24.95 and a 1-year high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million for the quarter, compared to analyst estimates of $153.64 million. Shenandoah Telecommunications had a return on equity of 4.04% and a net margin of 0.91%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share. equities research analysts expect that Shenandoah Telecommunications will post 0.16 earnings per share for the current year.

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The company also recently declared an annual dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a yield of 0.65%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.25. Shenandoah Telecommunications’s dividend payout ratio is presently 216.67%.

In other news, insider Earle A. Mackenzie sold 46,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the transaction, the insider now owns 118,047 shares in the company, valued at $4,595,569.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.24% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Elk Creek Partners LLC lifted its holdings in shares of Shenandoah Telecommunications by 2.8% in the third quarter. Elk Creek Partners LLC now owns 274,587 shares of the utilities provider’s stock valued at $10,215,000 after purchasing an additional 7,487 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Shenandoah Telecommunications by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,202,254 shares of the utilities provider’s stock valued at $81,925,000 after purchasing an additional 30,156 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Shenandoah Telecommunications by 5.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 221,095 shares of the utilities provider’s stock valued at $8,225,000 after purchasing an additional 11,821 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Shenandoah Telecommunications by 28.1% in the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock valued at $3,196,000 after purchasing an additional 18,862 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Shenandoah Telecommunications in the third quarter valued at approximately $221,000. Institutional investors own 49.36% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.

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