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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name. This segment leases fiber and provides Ethernet and wavelength fiber optic services. In addition, the company offers voice and digital subscriber line telephone services. The company's Tower segment owns 220 cell towers and leases colocation space on the towers. Shenandoah Telecommunications Company was founded in 1902 and is based in Edinburg, Virginia.
Analyst Ratings Changes
A number of brokerages have weighed in on SHEN. B. Riley lowered shares of Shenandoah Telecommunications from a "buy" rating to a "neutral" rating and decreased their target price for the company from $29.00 to $21.00 in a research note on Monday, May 2nd. They noted that the move was a valuation call. Raymond James lowered shares of Shenandoah Telecommunications from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, Shenandoah Telecommunications presently has an average rating of "Hold" and an average target price of $20.67.
Shenandoah Telecommunications Price Performance
NASDAQ:SHEN opened at $22.95 on Friday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 1.29 and a beta of 0.37. Shenandoah Telecommunications has a one year low of $17.06 and a one year high of $32.71. The business has a fifty day moving average price of $22.36 and a 200-day moving average price of $22.22.
Insider Transactions at Shenandoah Telecommunications
In related news, President Christopher E. French acquired 11,670 shares of Shenandoah Telecommunications stock in a transaction dated Monday, June 13th. The stock was purchased at an average cost of $21.43 per share, for a total transaction of $250,088.10. Following the purchase, the president now directly owns 212,096 shares of the company's stock, valued at approximately $4,545,217.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.04% of the stock is currently owned by company insiders.