Shenandoah Telecommunications (SHEN) Upgraded at BidaskClub

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BidaskClub upgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a hold rating to a buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also issued reports on SHEN. ValuEngine raised Shenandoah Telecommunications from a hold rating to a buy rating in a report on Friday, June 22nd. Zacks Investment Research lowered Shenandoah Telecommunications from a hold rating to a sell rating in a report on Saturday, July 28th. Finally, Raymond James lowered Shenandoah Telecommunications from an outperform rating to a market perform rating in a report on Friday, May 4th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $45.50.

Shares of Shenandoah Telecommunications traded down $1.05, reaching $36.00, during trading hours on Friday, according to Marketbeat. 139,311 shares of the company’s stock traded hands, compared to its average volume of 111,574. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 138.46 and a beta of 0.50. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.33 and a current ratio of 1.41. Shenandoah Telecommunications has a twelve month low of $29.92 and a twelve month high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company had revenue of $154.03 million for the quarter, compared to analyst estimates of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%. analysts forecast that Shenandoah Telecommunications will post 0.55 EPS for the current fiscal year.

In related news, VP Richard A. Baughman sold 6,000 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $32.65, for a total value of $195,900.00. Following the completion of the transaction, the vice president now owns 42,624 shares in the company, valued at approximately $1,391,673.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Raymond B. Ostroski sold 9,000 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $36.53, for a total value of $328,770.00. Following the completion of the transaction, the vice president now owns 24,364 shares of the company’s stock, valued at approximately $890,016.92. The disclosure for this sale can be found here. 6.84% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its position in shares of Shenandoah Telecommunications by 100.0% in the 2nd quarter. Federated Investors Inc. PA now owns 50,684 shares of the utilities provider’s stock valued at $1,657,000 after purchasing an additional 25,341 shares during the period. FMR LLC boosted its position in shares of Shenandoah Telecommunications by 10.9% in the 2nd quarter. FMR LLC now owns 452,156 shares of the utilities provider’s stock valued at $14,786,000 after purchasing an additional 44,500 shares during the period. BlackRock Inc. boosted its position in shares of Shenandoah Telecommunications by 7.8% in the 2nd quarter. BlackRock Inc. now owns 3,323,426 shares of the utilities provider’s stock valued at $108,676,000 after purchasing an additional 239,253 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Shenandoah Telecommunications by 7.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 263,559 shares of the utilities provider’s stock valued at $8,619,000 after purchasing an additional 18,966 shares during the period. Finally, Convergence Investment Partners LLC acquired a new position in shares of Shenandoah Telecommunications in the 2nd quarter valued at $352,000. Institutional investors and hedge funds own 47.10% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.

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