Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 52-Week High – Here’s Why

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) reached a new 52-week high during trading on Thursday . The stock traded as high as $15.92 and last traded at $15.60, with a volume of 63364 shares changing hands. The stock had previously closed at $15.62.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SHEN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. BWS Financial restated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Shenandoah Telecommunications presently has an average rating of “Hold” and an average price target of $26.00.

Shenandoah Telecommunications Stock Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $864.34 million, a price-to-earnings ratio of -22.98 and a beta of 0.79. The stock’s fifty day moving average is $12.22 and its two-hundred day moving average is $12.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. The company had revenue of $91.59 million for the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative return on equity of 4.01% and a negative net margin of 10.04%. Analysts forecast that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Shenandoah Telecommunications by 11,367.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 4,206 shares during the last quarter. Caitlin John LLC grew its stake in Shenandoah Telecommunications by 324.0% during the 4th quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after buying an additional 3,477 shares during the last quarter. State of Wyoming acquired a new stake in Shenandoah Telecommunications in the second quarter worth $65,000. Tower Research Capital LLC TRC lifted its stake in Shenandoah Telecommunications by 80.6% in the second quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after buying an additional 2,228 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in shares of Shenandoah Telecommunications during the third quarter valued at $67,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.