Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 1-Year Low on Disappointing Earnings

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.77 and last traded at $10.36, with a volume of 88642 shares traded. The stock had previously closed at $11.82.

The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in shares of Shenandoah Telecommunications by 10,890.9% during the 4th quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,396 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Shenandoah Telecommunications during the third quarter worth $37,000. Smartleaf Asset Management LLC grew its stake in shares of Shenandoah Telecommunications by 456.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,531 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Shenandoah Telecommunications during the fourth quarter worth $101,000. Finally, Quantbot Technologies LP lifted its stake in shares of Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 6,244 shares during the last quarter. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Stock Performance

The company has a fifty day moving average of $12.03 and a two-hundred day moving average of $13.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $562.16 million, a price-to-earnings ratio of 2.67 and a beta of 0.61.

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.