Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Down on Disappointing Earnings

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) shares gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $13.02, but opened at $12.03. Shenandoah Telecommunications shares last traded at $10.36, with a volume of 42,798 shares.

The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.05). The company had revenue of $87.90 million during the quarter, compared to analyst estimates of $89.31 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. During the same period in the previous year, the company posted ($0.07) earnings per share.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SHEN shares. BWS Financial reiterated a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research report on Thursday. StockNews.com upgraded Shenandoah Telecommunications to a "sell" rating in a research note on Friday, April 11th.

Institutional Investors Weigh In On Shenandoah Telecommunications

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Shenandoah Telecommunications by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider's stock valued at $349,000 after buying an additional 1,061 shares during the last quarter. Nebula Research & Development LLC raised its stake in shares of Shenandoah Telecommunications by 5.5% during the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider's stock valued at $278,000 after acquiring an additional 1,147 shares in the last quarter. PAX Financial Group LLC lifted its position in shares of Shenandoah Telecommunications by 3.8% in the 4th quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider's stock worth $468,000 after purchasing an additional 1,353 shares during the period. Tower Research Capital LLC TRC lifted its position in Shenandoah Telecommunications by 11.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider's stock valued at $173,000 after acquiring an additional 1,380 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Shenandoah Telecommunications by 5.9% during the fourth quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider's stock valued at $485,000 after acquiring an additional 2,143 shares in the last quarter. Institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Trading Down 6.2 %

The firm has a market cap of $616.58 million, a PE ratio of 2.97 and a beta of 0.81. The company has a 50 day simple moving average of $12.35 and a two-hundred day simple moving average of $12.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82.

Shenandoah Telecommunications Company Profile

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.