Shenandoah Telecommunications (NASDAQ:SHEN) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a strong sell rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Several other research analysts have also weighed in on SHEN. Raymond James raised shares of Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $44.00 price objective on the stock in a research note on Wednesday, August 7th. BidaskClub lowered shares of Shenandoah Telecommunications from a sell rating to a strong sell rating in a research note on Friday, September 20th. Finally, ValuEngine raised shares of Shenandoah Telecommunications from a hold rating to a buy rating in a research note on Saturday, October 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Shenandoah Telecommunications presently has an average rating of Hold and a consensus target price of $49.00.

Shenandoah Telecommunications stock traded up $1.45 during midday trading on Wednesday, hitting $31.14. 134,434 shares of the stock were exchanged, compared to its average volume of 136,825. The company has a fifty day simple moving average of $31.89 and a two-hundred day simple moving average of $38.07. Shenandoah Telecommunications has a 52 week low of $29.61 and a 52 week high of $51.41. The stock has a market capitalization of $1.48 billion, a PE ratio of 33.48 and a beta of 0.38. The company has a quick ratio of 1.69, a current ratio of 1.74 and a debt-to-equity ratio of 2.27.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Shenandoah Telecommunications had a net margin of 9.00% and a return on equity of 12.75%. The business had revenue of $158.91 million for the quarter, compared to analyst estimates of $162.23 million. As a group, equities research analysts anticipate that Shenandoah Telecommunications will post 1.16 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SHEN. Point72 Asset Management L.P. bought a new position in Shenandoah Telecommunications in the second quarter valued at approximately $31,000. Tower Research Capital LLC TRC lifted its stake in Shenandoah Telecommunications by 220.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,070 shares of the utilities provider’s stock valued at $41,000 after buying an additional 736 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Shenandoah Telecommunications by 622.0% in the second quarter. Meeder Asset Management Inc. now owns 2,000 shares of the utilities provider’s stock valued at $77,000 after buying an additional 1,723 shares in the last quarter. NumerixS Investment Technologies Inc lifted its stake in Shenandoah Telecommunications by 633.3% in the first quarter. NumerixS Investment Technologies Inc now owns 2,200 shares of the utilities provider’s stock valued at $98,000 after buying an additional 1,900 shares in the last quarter. Finally, Aperio Group LLC bought a new position in Shenandoah Telecommunications in the second quarter valued at approximately $151,000. 49.03% of the stock is currently owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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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