Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Down to $13.25

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price gapped down before the market opened on Friday . The stock had previously closed at $13.25, but opened at $12.90. Shenandoah Telecommunications shares last traded at $11.94, with a volume of 44,788 shares.

Analysts Set New Price Targets

Separately, BWS Financial raised Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Monday, March 4th.

Shenandoah Telecommunications Price Performance

The company’s fifty day moving average price is $16.32 and its two-hundred day moving average price is $19.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The company has a market cap of $679.56 million, a price-to-earnings ratio of 84.19 and a beta of 0.61.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $72.51 million during the quarter, compared to analyst estimates of $71.85 million. Shenandoah Telecommunications had a net margin of 2.80% and a return on equity of 1.24%. During the same period in the prior year, the business earned ($0.04) EPS. On average, equities research analysts forecast that Shenandoah Telecommunications will post -0.05 EPS for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Shenandoah Telecommunications by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,420,378 shares of the utilities provider’s stock valued at $52,328,000 after buying an additional 46,227 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Shenandoah Telecommunications by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,915 shares of the utilities provider’s stock valued at $16,256,000 after purchasing an additional 42,747 shares during the period. American Century Companies Inc. lifted its stake in Shenandoah Telecommunications by 25.6% in the 3rd quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock valued at $9,172,000 after purchasing an additional 90,695 shares during the last quarter. Norges Bank acquired a new stake in Shenandoah Telecommunications in the 4th quarter valued at about $6,797,000. Finally, RWA Wealth Partners LLC acquired a new position in Shenandoah Telecommunications during the fourth quarter worth approximately $2,583,000. 61.96% of the stock is currently owned by institutional investors and hedge funds.

Shenandoah Telecommunications Company Profile

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. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.