Shenandoah Telecommunications Co (SHEN) To Go Ex-Dividend on November 2nd

Shenandoah Telecommunications Co (NASDAQ:SHEN) announced an annual dividend on Tuesday, October 20th. Investors of record on Monday, November 2nd will be paid a dividend of $0.12 per share by the utilities provider on Tuesday, December 1st. This represents a yield of 123.0%. The ex-dividend date of this dividend is Monday, November 2nd. This is a 9.1% increase from Shenandoah Telecommunications’s previous annual dividend of $0.11.

Shenandoah Telecommunications has decreased its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 3 years. Shenandoah Telecommunications has a payout ratio of -17.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Shenandoah Telecommunications to earn ($0.60) per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of -20.0%.

Shenandoah Telecommunications Stock Up 0.4%

Shares of SHEN opened at $10.17 on Friday. The company’s 50-day moving average price is $11.36 and its 200 day moving average price is $13.40. Shenandoah Telecommunications has a 12-month low of $9.13 and a 12-month high of $17.34. 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 firm has a market cap of $563.07 million, a P/E ratio of -13.21 and a beta of 0.76.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Wednesday, October 28th. The utilities provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.04. The company had revenue of $93.93 million during the quarter, compared to analyst estimates 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, sell-side analysts forecast that Shenandoah Telecommunications will post -0.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on SHEN. Wall Street Zen lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday. BWS Financial reiterated a “buy” rating and issued a $26.00 price objective on shares of Shenandoah Telecommunications in a report on Thursday, July 30th. Finally, Weiss Ratings restated 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.50.

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.