Shenandoah Telecommunications (NASDAQ:SHEN) Reaches New 1-Year High – Here’s What Happened

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.92 and last traded at $15.60, with a volume of 63364 shares. The stock had previously closed at $15.62.

Wall Street Analyst Weigh In

A number of analysts recently commented on SHEN shares. Wall Street Zen upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. Finally, BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

Shenandoah Telecommunications Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.71. The company has a market cap of $844.98 million, a P/E ratio of -22.47 and a beta of 0.79. The business’s 50 day simple moving average is $12.38 and its 200 day simple moving average is $12.35.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, February 26th. The utilities provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. The business had revenue of $91.59 million during the quarter, compared to analyst estimates of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. Sell-side analysts predict that Shenandoah Telecommunications Co will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently bought and sold shares of SHEN. Russell Investments Group Ltd. lifted its position in shares of Shenandoah Telecommunications by 11,367.6% in the third quarter. Russell Investments Group Ltd. now owns 4,243 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 4,206 shares in the last quarter. Caitlin John LLC boosted its stake in shares of Shenandoah Telecommunications by 324.0% in the fourth quarter. Caitlin John LLC now owns 4,550 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 3,477 shares during the period. State of Wyoming purchased a new stake in shares of Shenandoah Telecommunications during the second quarter worth about $65,000. Tower Research Capital LLC TRC raised its stake in Shenandoah Telecommunications by 80.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,992 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 2,228 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in shares of Shenandoah Telecommunications during the third quarter worth $67,000. Hedge funds and other institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.