Shenandoah Telecommunications (NASDAQ:SHEN) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen cut shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a hold rating to a sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other analysts have also recently weighed in on SHEN. BWS Financial reissued a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shenandoah Telecommunications in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.50.

Shenandoah Telecommunications Price Performance

Shares of SHEN opened at $10.17 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.85 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $11.36 and its 200 day simple moving average is $13.40. Shenandoah Telecommunications has a 1-year low of $9.13 and a 1-year high of $17.34. The company has a market cap of $563.11 million, a price-to-earnings ratio of -13.21 and a beta of 0.76.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, October 28th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.04. The business had revenue of $93.93 million during the quarter, compared to the consensus estimate of $94.10 million. Shenandoah Telecommunications had a negative net margin of 10.68% and a negative return on equity of 4.58%. On average, research analysts forecast that Shenandoah Telecommunications will post -0.85 earnings per share for the current fiscal year.

Shenandoah Telecommunications Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 2nd will be given a dividend of $0.12 per share. The ex-dividend date is Monday, November 2nd. This represents a dividend yield of 123.0%. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.11. Shenandoah Telecommunications’s dividend payout ratio (DPR) is -14.29%.

Hedge Funds Weigh In On Shenandoah Telecommunications

Several hedge funds and other institutional investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Shenandoah Telecommunications in the third quarter worth about $844,000. Versant Capital Management Inc grew its holdings in shares of Shenandoah Telecommunications by 71.7% during the 3rd quarter. Versant Capital Management Inc now owns 3,675 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 1,535 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Shenandoah Telecommunications by 12.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,208 shares of the utilities provider’s stock valued at $2,190,000 after purchasing an additional 15,796 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Shenandoah Telecommunications during the 2nd quarter valued at approximately $3,974,000. Finally, Caitlin John LLC acquired a new position in Shenandoah Telecommunications during the 2nd quarter worth approximately $69,000. Institutional investors own 61.96% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, also known as Shentel, is a telecommunications provider headquartered in Edinburg, Virginia. The company delivers broadband communications services to residential and commercial customers, with a focus on high-speed internet, fiber-optic connectivity, video and voice services.

Shentel operates its Glo Fiber network in selected communities and provides broadband services through its legacy cable and fiber networks. Its service territory primarily includes markets in Virginia, West Virginia, Maryland and Pennsylvania.