Shenandoah Telecommunications (NASDAQ:SHEN) Trading Down 5.3% – Time to Sell?

Shares of Shenandoah Telecommunications Co (NASDAQ:SHEN) were down 5.3% during mid-day trading on Friday . The company traded as low as $11.63 and last traded at $11.6190. 168,798 shares changed hands during trading, a decline of 48% from the average daily volume of 327,758 shares. The stock had previously closed at $12.27.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SHEN shares. BWS Financial reaffirmed a “buy” rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Monday, May 4th. Craig Hallum started coverage on Shenandoah Telecommunications in a research note on Thursday, April 9th. They issued a “buy” rating and a $29.00 price objective on the stock. Weiss Ratings cut Shenandoah Telecommunications from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Shenandoah Telecommunications has an average rating of “Hold” and a consensus target price of $27.50.

Shenandoah Telecommunications Stock Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $15.03 and its two-hundred day moving average is $14.18. The company has a market cap of $643.65 million, a PE ratio of -14.58 and a beta of 0.67.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Friday, May 1st. The utilities provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $92.15 million during the quarter, compared to analysts’ expectations of $91.34 million. Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%. On average, equities research analysts anticipate that Shenandoah Telecommunications Co will post -1.08 EPS for the current year.

Institutional Trading of Shenandoah Telecommunications

Several institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. bought a new stake in Shenandoah Telecommunications during the 1st quarter valued at approximately $158,000. Royal Bank of Canada boosted its stake in 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 purchasing an additional 3,904 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Shenandoah Telecommunications by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,964 shares of the utilities provider’s stock worth $364,000 after buying an additional 1,248 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Shenandoah Telecommunications by 48.3% in the first quarter. Millennium Management LLC now owns 448,976 shares of the utilities provider’s stock worth $5,644,000 after buying an additional 146,221 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Shenandoah Telecommunications by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 532,984 shares of the utilities provider’s stock worth $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.

Shenandoah Telecommunications Company Profile

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.