Shenandoah Telecommunications (NASDAQ:SHEN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Shenandoah Telecommunications from “sell” to “hold.” Analysts’ overall consensus is “Hold,” with an average price target of $27.50, though ratings remain mixed.
• Shenandoah reported quarterly EPS of -$0.17, beating the consensus estimate of -$0.28, while revenue of $93.46 million slightly exceeded expectations. The company remains unprofitable, with a negative net margin of 10.83%.
• Shares opened at $13.48, within a 12-month range of $9.66 to $17.34. CFO James J. Volk purchased nearly $50,000 of stock, while institutional investors and hedge funds collectively own 61.96% of the company.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. BWS Financial restated a "buy" rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Shenandoah Telecommunications in a research report on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.50.

Shenandoah Telecommunications Stock Performance

Shares of NASDAQ SHEN opened at $13.48 on Friday. The company has a 50-day simple moving average of $13.78 and a 200-day simple moving average of $14.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $746.39 million, a PE ratio of -17.28 and a beta of 0.68. Shenandoah Telecommunications has a 12 month low of $9.66 and a 12 month high of $17.34.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.11. The business had revenue of $93.46 million for the quarter, compared to the consensus estimate of $92.83 million. Shenandoah Telecommunications had a negative net margin of 10.83% and a negative return on equity of 4.54%. On average, equities analysts anticipate that Shenandoah Telecommunications will post -0.85 earnings per share for the current year.

Insider Buying and Selling at Shenandoah Telecommunications

In other news, CFO James J. Volk bought 4,283 shares of Shenandoah Telecommunications stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average price of $11.67 per share, for a total transaction of $49,982.61. Following the completion of the acquisition, the chief financial officer owned 92,671 shares of the company's stock, valued at $1,081,470.57. The trade was a 4.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.01% of the company's stock.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Shenandoah Telecommunications during the 2nd quarter worth approximately $106,907,000. ECP ControlCo LLC raised its stake in shares of Shenandoah Telecommunications by 2.4% in the 4th quarter. ECP ControlCo LLC now owns 3,457,105 shares of the utilities provider's stock valued at $39,964,000 after acquiring an additional 79,872 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Shenandoah Telecommunications by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,639,113 shares of the utilities provider's stock valued at $35,416,000 after acquiring an additional 39,653 shares during the period. State Street Corp lifted its holdings in shares of Shenandoah Telecommunications by 1.7% during the 4th quarter. State Street Corp now owns 1,927,155 shares of the utilities provider's stock valued at $22,278,000 after acquiring an additional 31,375 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 1,116.6% during the 4th quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider's stock valued at $12,569,000 after acquiring an additional 997,882 shares in the last quarter. 61.96% of the stock is owned by institutional investors and hedge funds.

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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