Shenandoah Telecommunications (NASDAQ:SHEN) – Equities researchers at B. Riley increased their FY2018 EPS estimates for Shenandoah Telecommunications in a note issued to investors on Wednesday, November 7th. B. Riley analyst Z. Silver now expects that the utilities provider will post earnings of $0.98 per share for the year, up from their prior forecast of $0.63. B. Riley has a “Buy” rating and a $50.00 price objective on the stock. B. Riley also issued estimates for Shenandoah Telecommunications’ Q4 2018 earnings at $0.32 EPS, FY2019 earnings at $1.44 EPS, FY2020 earnings at $1.99 EPS and FY2021 earnings at $2.49 EPS.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.16. Shenandoah Telecommunications had a net margin of 14.41% and a return on equity of 9.02%. The business had revenue of $158.73 million during the quarter, compared to the consensus estimate of $156.14 million.
Other equities research analysts also recently issued reports about the stock. TheStreet upgraded shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Saturday, August 11th. Finally, BidaskClub upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research note on Saturday, August 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $47.00.
NASDAQ:SHEN opened at $42.84 on Friday. Shenandoah Telecommunications has a 12 month low of $29.92 and a 12 month high of $43.28. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.41 and a quick ratio of 1.36. The firm has a market cap of $2.05 billion, a PE ratio of 164.77 and a beta of 0.24.
The company also recently disclosed an annual dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, November 12th will be issued a $0.27 dividend. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.26. The ex-dividend date of this dividend is Thursday, November 8th. This represents a yield of 0.71%. Shenandoah Telecommunications’s payout ratio is presently 100.00%.
In other news, SVP Edward H. Mckay sold 5,215 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $37.15, for a total transaction of $193,737.25. Following the completion of the sale, the senior vice president now owns 17,959 shares of the company’s stock, valued at $667,176.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Raymond B. Ostroski sold 5,000 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $38.75, for a total transaction of $193,750.00. Following the sale, the vice president now directly owns 15,364 shares of the company’s stock, valued at approximately $595,355. The disclosure for this sale can be found here. Insiders sold 15,215 shares of company stock valued at $588,787 in the last ninety days. 6.84% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Shenandoah Telecommunications by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 18,715 shares of the utilities provider’s stock worth $725,000 after purchasing an additional 1,233 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Shenandoah Telecommunications by 3.3% during the second quarter. Rhumbline Advisers now owns 46,763 shares of the utilities provider’s stock worth $1,529,000 after purchasing an additional 1,495 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Shenandoah Telecommunications by 30.7% during the second quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 3,007 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of Shenandoah Telecommunications by 17.0% during the second quarter. MetLife Investment Advisors LLC now owns 23,367 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 3,392 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new stake in shares of Shenandoah Telecommunications during the third quarter worth about $140,000. 47.14% of the stock is owned by institutional investors and hedge funds.
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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