Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 12-Month Low After Analyst Downgrade

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price reached a new 52-week low on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. The company traded as low as $24.41 and last traded at $24.62, with a volume of 144870 shares traded. The stock had previously closed at $24.68.

SHEN has been the subject of a number of other research reports. B. Riley lowered their price objective on Shenandoah Telecommunications from $43.00 to $40.00 in a research report on Wednesday. Raymond James raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $29.00 price target for the company in a research report on Tuesday, December 14th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG raised its stake in shares of Shenandoah Telecommunications by 100.6% during the 3rd quarter. UBS Group AG now owns 1,440 shares of the utilities provider’s stock valued at $46,000 after buying an additional 722 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Shenandoah Telecommunications by 20.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,768 shares of the utilities provider’s stock valued at $119,000 after buying an additional 650 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Shenandoah Telecommunications during the 2nd quarter valued at about $211,000. Advisor Group Holdings Inc. raised its stake in shares of Shenandoah Telecommunications by 18.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,402 shares of the utilities provider’s stock valued at $139,000 after buying an additional 696 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at about $257,000. Institutional investors and hedge funds own 54.54% of the company’s stock.

The company has a 50 day moving average of $26.31 and a two-hundred day moving average of $32.92. The stock has a market cap of $1.22 billion, a PE ratio of 1.17 and a beta of 0.23.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, October 28th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.24. Shenandoah Telecommunications had a return on equity of 2.07% and a net margin of 434.98%. The firm had revenue of $62.24 million during the quarter, compared to analyst estimates of $61.91 million. During the same quarter in the previous year, the business earned $0.03 EPS. On average, analysts predict that Shenandoah Telecommunications will post 0.28 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which was paid on Wednesday, December 1st. Investors of record on Monday, November 8th were issued a $0.07 dividend. This represents a yield of 0.26%. The ex-dividend date was Friday, November 5th. Shenandoah Telecommunications’s payout ratio is 0.34%.

About Shenandoah Telecommunications (NASDAQ:SHEN)

Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.

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