Shenandoah Telecommunications (NASDAQ:SHEN) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) to a sell rating in a report issued on Wednesday.

Separately, BWS Financial restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Tuesday, February 25th.

Shenandoah Telecommunications Stock Up 2.7 %

NASDAQ SHEN opened at $12.78 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 0.44. Shenandoah Telecommunications has a 1-year low of $9.77 and a 1-year high of $21.89. The company has a 50 day moving average of $11.54 and a 200-day moving average of $12.95. The company has a market cap of $701.06 million, a price-to-earnings ratio of 3.37 and a beta of 0.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 58.03% and a negative return on equity of 2.50%. The business had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. On average, equities research analysts expect that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHEN. Vanguard Group Inc. grew its stake in shares of Shenandoah Telecommunications by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock worth $69,731,000 after buying an additional 68,133 shares during the last quarter. DAVENPORT & Co LLC boosted its position in Shenandoah Telecommunications by 16.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider’s stock valued at $12,770,000 after acquiring an additional 140,314 shares during the last quarter. Northern Trust Corp boosted its position in Shenandoah Telecommunications by 1.3% during the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider’s stock valued at $6,607,000 after acquiring an additional 6,904 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Shenandoah Telecommunications by 8.3% during the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock valued at $5,732,000 after acquiring an additional 34,740 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Shenandoah Telecommunications by 12.5% during the fourth quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider’s stock valued at $5,463,000 after acquiring an additional 48,233 shares during the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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.