Shenandoah Telecommunications (SHEN) Posts Earnings Results, Hits Expectations

Shenandoah Telecommunications (NASDAQ:SHEN) released its quarterly earnings results on Thursday. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28, MarketWatch Earnings reports. Shenandoah Telecommunications had a net margin of 8.23% and a return on equity of 11.98%. The business had revenue of $158.84 million for the quarter, compared to analyst estimates of $163.97 million.

SHEN stock traded down $0.66 during trading hours on Friday, hitting $41.49. The company’s stock had a trading volume of 173,631 shares, compared to its average volume of 132,064. The company has a quick ratio of 2.31, a current ratio of 2.37 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 44.61 and a beta of 0.42. Shenandoah Telecommunications has a 12 month low of $29.92 and a 12 month high of $51.41.

In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $45.76, for a total value of $457,600.00. Following the completion of the sale, the vice president now directly owns 18,575 shares of the company’s stock, valued at $849,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.



A number of hedge funds have recently bought and sold shares of SHEN. Norges Bank bought a new stake in Shenandoah Telecommunications in the fourth quarter worth approximately $37,146,000. FMR LLC grew its position in Shenandoah Telecommunications by 88.1% in the fourth quarter. FMR LLC now owns 841,098 shares of the utilities provider’s stock worth $37,218,000 after acquiring an additional 393,942 shares in the last quarter. AltraVue Capital LLC bought a new stake in Shenandoah Telecommunications in the fourth quarter worth approximately $7,650,000. Prudential Financial Inc. grew its position in Shenandoah Telecommunications by 72.3% in the fourth quarter. Prudential Financial Inc. now owns 341,143 shares of the utilities provider’s stock worth $15,095,000 after acquiring an additional 143,156 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in Shenandoah Telecommunications in the fourth quarter worth approximately $5,541,000. 49.31% of the stock is owned by institutional investors.

A number of research analysts recently commented on the stock. ValuEngine downgraded shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. BidaskClub downgraded shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. B. Riley boosted their price objective on shares of Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, BWS Financial reaffirmed a “buy” rating on shares of Shenandoah Telecommunications in a research report on Monday, January 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.50.

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Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

See Also: Compound Annual Growth Rate (CAGR)

Earnings History for Shenandoah Telecommunications (NASDAQ:SHEN)

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