$156.13 Million in Sales Expected for Shenandoah Telecommunications (SHEN) This Quarter

Brokerages forecast that Shenandoah Telecommunications (NASDAQ:SHEN) will post sales of $156.13 million for the current quarter, Zacks reports. Three analysts have provided estimates for Shenandoah Telecommunications’ earnings. The highest sales estimate is $156.24 million and the lowest is $156.00 million. Shenandoah Telecommunications posted sales of $151.78 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The firm is scheduled to issue its next earnings report on Thursday, November 1st.

On average, analysts expect that Shenandoah Telecommunications will report full-year sales of $621.29 million for the current financial year, with estimates ranging from $619.00 million to $624.81 million. For the next fiscal year, analysts anticipate that the company will post sales of $665.46 million, with estimates ranging from $656.92 million to $674.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Shenandoah Telecommunications.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The company had revenue of $154.03 million for the quarter, compared to analysts’ expectations of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%.

Several analysts recently commented on SHEN shares. BidaskClub upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Saturday, August 11th. B. Riley started coverage on Shenandoah Telecommunications in a report on Thursday, September 13th. They issued a “buy” rating and a $46.00 target price on the stock. Zacks Investment Research cut Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, July 28th. ValuEngine upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Finally, TheStreet upgraded Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a report on Friday, August 24th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.67.

In other Shenandoah Telecommunications news, VP Richard A. Baughman sold 6,000 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $32.65, for a total transaction of $195,900.00. Following the transaction, the vice president now directly owns 42,624 shares in the company, valued at approximately $1,391,673.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Raymond B. Ostroski sold 5,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $38.75, for a total value of $193,750.00. Following the transaction, the vice president now owns 15,364 shares in the company, valued at $595,355. The disclosure for this sale can be found here. Insiders have sold a total of 27,215 shares of company stock worth $985,657 over the last 90 days. Company insiders own 6.84% of the company’s stock.

Several institutional investors have recently bought and sold shares of SHEN. Element Capital Management LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter worth approximately $226,000. Hartford Investment Management Co. acquired a new position in shares of Shenandoah Telecommunications during the second quarter worth approximately $251,000. Jane Street Group LLC acquired a new position in shares of Shenandoah Telecommunications during the first quarter worth approximately $280,000. Citigroup Inc. raised its position in shares of Shenandoah Telecommunications by 1,957.1% during the first quarter. Citigroup Inc. now owns 8,146 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 7,750 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in shares of Shenandoah Telecommunications during the second quarter worth approximately $352,000. Hedge funds and other institutional investors own 46.91% of the company’s stock.

SHEN stock traded up $0.20 during trading on Friday, hitting $37.75. The company had a trading volume of 1,004 shares, compared to its average volume of 142,384. Shenandoah Telecommunications has a one year low of $29.92 and a one year high of $41.80. The stock has a market capitalization of $1.88 billion, a PE ratio of 144.42 and a beta of 0.44. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.36.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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