Shenandoah Telecommunications (NASDAQ:SHEN) Shares Down 5.3% - Here's What Happened

Key Points

• Shenandoah Telecommunications shares fell 5.3% on Friday, trading as low as $11.63 on lighter-than-average volume.
• Recent analyst views are mixed, with two Buy ratings and one Sell rating; the consensus from MarketBeat is currently Hold with an average price target of $27.50.
• The company missed earnings estimates in its latest quarter, posting EPS of -$0.31 versus expectations of -$0.24, even though revenue came in slightly above forecasts at $92.15 million.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) dropped 5.3% on Friday . The stock traded as low as $11.63 and last traded at $11.6190. 168,798 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 327,758 shares. The stock had previously closed at $12.27.

Analyst Upgrades and Downgrades

SHEN has been the subject of a number of recent analyst reports. Craig Hallum began coverage on Shenandoah Telecommunications in a report on Thursday, April 9th. They set a "buy" rating and a $29.00 target price for the company. Weiss Ratings downgraded shares of Shenandoah Telecommunications from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, BWS Financial reaffirmed a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $27.50.

Shenandoah Telecommunications Stock Down 5.2%

The firm has a market capitalization of $643.65 million, a P/E ratio of -14.58 and a beta of 0.67. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $14.18.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The business had revenue of $92.15 million for the quarter, compared to analysts' expectations of $91.34 million. Shenandoah Telecommunications had a negative net margin of 11.35% and a negative return on equity of 4.64%. On average, equities analysts expect that Shenandoah Telecommunications Co will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cooper Investors PTY Ltd. increased its position in shares of Shenandoah Telecommunications by 81.0% during the 4th quarter. Cooper Investors PTY Ltd. now owns 950,951 shares of the utilities provider's stock valued at $10,993,000 after purchasing an additional 425,582 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Shenandoah Telecommunications by 31.1% in the fourth quarter. Gabelli Funds LLC now owns 198,530 shares of the utilities provider's stock worth $2,295,000 after buying an additional 47,100 shares during the last quarter. Caxton Associates LLP bought a new stake in Shenandoah Telecommunications during the first quarter valued at approximately $194,000. Jump Financial LLC bought a new stake in Shenandoah Telecommunications during the second quarter valued at approximately $190,000. Finally, BNP Paribas Financial Markets increased its holdings in Shenandoah Telecommunications by 119.4% during the third quarter. BNP Paribas Financial Markets now owns 12,828 shares of the utilities provider's stock valued at $172,000 after buying an additional 6,981 shares during the last quarter. 61.96% of the stock is currently owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications

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.

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