Shenandoah Telecommunications (NASDAQ:SHEN) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Shenandoah Telecommunications to “Sell” from “Hold,” while analysts overall maintain a consensus “Hold” rating and a $27.50 price target.
• Shentel reported a quarterly loss of $0.19 per share, beating estimates for a $0.23 loss, while revenue of $93.93 million was slightly below expectations and profitability metrics remained negative.
• SHEN shares opened at $10.17, near their 52-week low of $9.13, and institutional investors own approximately 61.96% of the company.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on SHEN. Weiss Ratings reiterated a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Thursday. BWS Financial reissued a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Shenandoah Telecommunications presently has an average rating of "Hold" and a consensus price target of $27.50.

Shenandoah Telecommunications Trading Up 0.4%

SHEN opened at $10.17 on Friday. Shenandoah Telecommunications has a fifty-two week low of $9.13 and a fifty-two week high of $17.34. The company's 50-day moving average price is $11.36 and its 200 day moving average price is $13.40. The company has a current ratio of 0.71, a quick ratio of 0.85 and a debt-to-equity ratio of 0.88.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last issued its earnings results on Wednesday, October 28th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.04. Shenandoah Telecommunications had a negative net margin of 10.68% and a negative return on equity of 4.58%. The firm had revenue of $93.93 million for the quarter, compared to analysts' expectations of $94.10 million. Equities research analysts predict that Shenandoah Telecommunications will post -0.85 EPS for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in Shenandoah Telecommunications in the 2nd quarter worth approximately $1,538,000. Bank of New York Mellon Corp bought a new stake in Shenandoah Telecommunications during the 2nd quarter valued at $4,041,000. Empowered Funds LLC bought a new stake in Shenandoah Telecommunications during the 2nd quarter valued at $3,974,000. BlackRock Inc. bought a new stake in Shenandoah Telecommunications during the 2nd quarter valued at $106,907,000. Finally, Bank of America Corp DE bought a new stake in Shenandoah Telecommunications during the 2nd quarter valued at $1,050,000. 61.96% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.

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