Shenandoah Telecommunications (NASDAQ:SHEN) Now Covered by Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research note issued on Thursday. The firm set a “buy” rating and a $29.00 price target on the utilities provider’s stock. Craig Hallum’s price objective indicates a potential upside of 101.11% from the stock’s previous close.

Several other research firms have also commented on SHEN. Wall Street Zen upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. BWS Financial reaffirmed a “buy” rating and issued a $26.00 price target on shares of Shenandoah Telecommunications in a research note on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Shenandoah Telecommunications in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Performance

SHEN opened at $14.42 on Thursday. The firm’s fifty day simple moving average is $13.88 and its two-hundred day simple moving average is $12.56. Shenandoah Telecommunications has a 52-week low of $9.66 and a 52-week high of $15.92. The company has a market cap of $797.43 million, a price-to-earnings ratio of -21.21 and a beta of 0.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.71.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, February 26th. The utilities provider reported ($0.10) EPS 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 analysts’ expectations of $90.03 million. Shenandoah Telecommunications had a negative net margin of 10.04% and a negative return on equity of 4.01%. Equities analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. acquired a new position in Shenandoah Telecommunications during the first quarter worth $158,000. Royal Bank of Canada increased its stake in shares of Shenandoah Telecommunications by 11.8% in the 1st quarter. Royal Bank of Canada now owns 37,008 shares of the utilities provider’s stock worth $465,000 after acquiring an additional 3,904 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Shenandoah Telecommunications by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 1,248 shares during the period. Millennium Management LLC raised its holdings in shares of Shenandoah Telecommunications by 48.3% during the 1st quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock worth $5,644,000 after acquiring an additional 146,221 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Shenandoah Telecommunications by 27.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock valued at $6,700,000 after acquiring an additional 116,040 shares during the last quarter. 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.