Shenandoah Telecommunications (NASDAQ:SHEN) Stock Crosses Above 50-Day Moving Average of $40.60

Shenandoah Telecommunications (NASDAQ:SHEN) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $40.60 and traded as high as $38.46. Shenandoah Telecommunications shares last traded at $38.45, with a volume of 2,164 shares trading hands.

A number of research firms have recently commented on SHEN. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Wednesday, March 13th. B. Riley upped their price target on shares of Shenandoah Telecommunications from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Macquarie restated a “hold” rating and issued a $47.00 price target on shares of Shenandoah Telecommunications in a report on Sunday, May 12th. TheStreet cut shares of Shenandoah Telecommunications from a “b-” rating to a “c” rating in a report on Tuesday, May 28th. Finally, ValuEngine cut shares of Shenandoah Telecommunications from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Shenandoah Telecommunications presently has an average rating of “Hold” and a consensus price target of $50.67.

The company has a fifty day moving average price of $40.48. The company has a quick ratio of 1.52, a current ratio of 1.58 and a debt-to-equity ratio of 2.32. The company has a market cap of $1.92 billion, a PE ratio of 41.42 and a beta of 0.45.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $158.84 million for the quarter, compared to analysts’ expectations of $163.97 million. Shenandoah Telecommunications had a net margin of 8.23% and a return on equity of 11.86%. As a group, sell-side analysts expect that Shenandoah Telecommunications will post 1.2 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in Shenandoah Telecommunications by 51.4% during the 4th quarter. Bank of Montreal Can now owns 1,002 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 340 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Shenandoah Telecommunications by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 11,162 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 434 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Shenandoah Telecommunications by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock worth $756,000 after acquiring an additional 452 shares in the last quarter. Menta Capital LLC grew its holdings in Shenandoah Telecommunications by 17.3% during the 4th quarter. Menta Capital LLC now owns 6,100 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 900 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Shenandoah Telecommunications by 5.6% during the 4th quarter. Legal & General Group Plc now owns 18,608 shares of the utilities provider’s stock worth $823,000 after acquiring an additional 991 shares in the last quarter. Institutional investors own 48.94% of the company’s stock.

Shenandoah Telecommunications Company Profile (NASDAQ:SHEN)

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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