Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Up - What's Next?

Key Points

• SHEN gapped up pre-market — it opened at $15.40 versus the prior close of $14.42 and last traded around $14.86 on volume of ~44,226 shares.
• Analyst mix and consensus: two Buy ratings and one Sell result in a MarketBeat consensus of Hold with a consensus target price of $27.50 (individual targets up to $29).
• Fundamentals: the company reported a Q4 EPS of -$0.10 (beating -$0.20) and revenue of $91.6M, but remains unprofitable (negative net margin and ROE), has a negative P/E, a FY EPS forecast of -0.49, and a market cap of about $826M.

Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $14.42, but opened at $15.40. Shenandoah Telecommunications shares last traded at $14.8550, with a volume of 44,226 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SHEN shares. Wall Street Zen raised shares of Shenandoah Telecommunications from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. BWS Financial reiterated a "buy" rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, March 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Shenandoah Telecommunications in a research note on Thursday, January 22nd. Finally, Craig Hallum assumed coverage on Shenandoah Telecommunications in a research note on Thursday. They issued a "buy" rating and a $29.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Shenandoah Telecommunications presently has a consensus rating of "Hold" and a consensus target price of $27.50.

Shenandoah Telecommunications Price Performance

The stock's fifty day moving average price is $13.88 and its 200-day moving average price is $12.56. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $826.18 million, a price-to-earnings ratio of -21.97 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last posted its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.10. The company had revenue of $91.59 million during the quarter, compared to the consensus estimate of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. Equities research analysts predict that Shenandoah Telecommunications Co will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its stake in shares of Shenandoah Telecommunications by 1.4% in the 4th quarter. Jane Street Group LLC now owns 70,738 shares of the utilities provider's stock valued at $818,000 after buying an additional 948 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Shenandoah Telecommunications by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,768 shares of the utilities provider's stock worth $256,000 after purchasing an additional 986 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Shenandoah Telecommunications by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider's stock worth $364,000 after purchasing an additional 1,248 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Shenandoah Telecommunications by 13.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,688 shares of the utilities provider's stock worth $147,000 after purchasing an additional 1,511 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Shenandoah Telecommunications by 8.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 24,110 shares of the utilities provider's stock worth $324,000 after purchasing an additional 1,782 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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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