Shenandoah Telecommunications’ (SHEN) Buy Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research note published on Thursday,Benzinga reports. BWS Financial currently has a $26.00 price target on the utilities provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Craig Hallum assumed coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They set a “buy” rating and a $29.00 price objective for the company. Weiss Ratings lowered Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shenandoah Telecommunications presently has an average rating of “Hold” and an average price target of $27.50.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ:SHEN opened at $11.99 on Thursday. The firm has a 50 day moving average of $14.08 and a 200 day moving average of $14.17. The company has a quick ratio of 1.12, a current ratio of 0.85 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $663.89 million, a price-to-earnings ratio of -15.37 and a beta of 0.67. Shenandoah Telecommunications has a 52 week low of $9.66 and a 52 week high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative return on equity of 4.54% and a negative net margin of 10.83%.The business had revenue of $93.46 million for the quarter, compared to analysts’ expectations of $92.83 million. On average, sell-side analysts predict that Shenandoah Telecommunications will post -1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC lifted its holdings in shares of Shenandoah Telecommunications by 1.4% during the 4th quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider’s stock valued at $818,000 after purchasing an additional 948 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Shenandoah Telecommunications by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider’s stock worth $256,000 after purchasing an additional 986 shares in the last quarter. Gabelli Funds LLC grew its stake in Shenandoah Telecommunications by 0.5% during the 1st quarter. Gabelli Funds LLC now owns 199,530 shares of the utilities provider’s stock worth $3,077,000 after buying an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Shenandoah Telecommunications by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after buying an additional 1,248 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Shenandoah Telecommunications by 13.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider’s stock worth $147,000 after buying an additional 1,511 shares during the last quarter. 61.96% of the stock is 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.