Analysts Expect Shenandoah Telecommunications Co (SHEN) Will Announce Quarterly Sales of $153.60 Million
Wall Street analysts expect Shenandoah Telecommunications Co (NASDAQ:SHEN) to report sales of $153.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Shenandoah Telecommunications’ earnings, with the highest sales estimate coming in at $153.86 million and the lowest estimate coming in at $153.33 million. Shenandoah Telecommunications posted sales of $156.84 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.1%. The firm is expected to announce its next quarterly earnings report on Monday, November 6th.
According to Zacks, analysts expect that Shenandoah Telecommunications will report full-year sales of $153.60 million for the current fiscal year, with estimates ranging from $614.68 million to $615.96 million. For the next year, analysts expect that the business will post sales of $643.07 million per share, with estimates ranging from $630.57 million to $655.58 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Shenandoah Telecommunications.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The business had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $153.83 million. The business’s quarterly revenue was up 17.7% compared to the same quarter last year.
A number of equities analysts recently commented on SHEN shares. Zacks Investment Research upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Thursday, May 11th. BidaskClub upgraded Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. TheStreet cut Shenandoah Telecommunications from a “b” rating to a “c+” rating in a report on Thursday, May 4th. Finally, ValuEngine upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $34.67.
In other news, VP Raymond B. Ostroski sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $31.75, for a total transaction of $95,250.00. Following the completion of the sale, the vice president now owns 21,621 shares in the company, valued at $686,466.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.24% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SHEN. BlackRock Inc. increased its stake in Shenandoah Telecommunications by 91,238.8% in the first quarter. BlackRock Inc. now owns 3,679,126 shares of the utilities provider’s stock worth $103,201,000 after buying an additional 3,675,098 shares during the last quarter. Norges Bank acquired a new stake in Shenandoah Telecommunications during the fourth quarter worth $13,697,000. Aberdeen Asset Management PLC UK increased its stake in Shenandoah Telecommunications by 16.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 2,374,343 shares of the utilities provider’s stock worth $66,600,000 after buying an additional 338,266 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Shenandoah Telecommunications by 20.6% in the first quarter. TimesSquare Capital Management LLC now owns 1,837,275 shares of the utilities provider’s stock worth $51,536,000 after buying an additional 313,500 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its stake in Shenandoah Telecommunications by 28.6% in the second quarter. Mawer Investment Management Ltd. now owns 838,399 shares of the utilities provider’s stock worth $25,739,000 after buying an additional 186,523 shares during the last quarter. Institutional investors own 49.61% of the company’s stock.
Shenandoah Telecommunications (SHEN) opened at 35.40 on Friday. Shenandoah Telecommunications has a 52-week low of $22.05 and a 52-week high of $36.80. The company’s 50 day moving average price is $31.21 and its 200 day moving average price is $29.92. The firm’s market cap is $1.74 billion.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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