Zacks Investment Research downgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Several other research firms have also issued reports on SHEN. BidaskClub lowered shares of Shenandoah Telecommunications from a sell rating to a strong sell rating in a research report on Friday, September 20th. ValuEngine upgraded shares of Shenandoah Telecommunications from a hold rating to a buy rating in a research report on Saturday, October 5th. Finally, Raymond James upgraded shares of Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $44.00 price target on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $45.75.

NASDAQ SHEN traded down $0.41 during trading hours on Wednesday, reaching $37.45. The company’s stock had a trading volume of 725,300 shares, compared to its average volume of 218,651. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.98 billion, a PE ratio of 40.27 and a beta of 0.34. Shenandoah Telecommunications has a 52 week low of $29.61 and a 52 week high of $51.41. The business has a 50-day simple moving average of $32.08 and a 200 day simple moving average of $36.48.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). The business had revenue of $155.15 million during the quarter, compared to analyst estimates of $163.96 million. Shenandoah Telecommunications had a return on equity of 12.28% and a net margin of 8.87%. As a group, equities analysts predict that Shenandoah Telecommunications will post 1.14 EPS for the current year.

The company also recently disclosed an annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.29 per share. This represents a yield of 0.9%. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.27. The ex-dividend date of this dividend is Wednesday, November 13th. Shenandoah Telecommunications’s payout ratio is presently 29.03%.

A number of hedge funds and other institutional investors have recently bought and sold shares of SHEN. Nuveen Asset Management LLC purchased a new position in Shenandoah Telecommunications during the 2nd quarter worth approximately $18,920,000. TimesSquare Capital Management LLC grew its position in Shenandoah Telecommunications by 39.0% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,207,950 shares of the utilities provider’s stock worth $38,377,000 after purchasing an additional 338,910 shares in the last quarter. Vanguard Group Inc. grew its position in Shenandoah Telecommunications by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,535,151 shares of the utilities provider’s stock worth $174,694,000 after purchasing an additional 139,511 shares in the last quarter. Prudential Financial Inc. grew its position in Shenandoah Telecommunications by 38.3% during the 2nd quarter. Prudential Financial Inc. now owns 483,586 shares of the utilities provider’s stock worth $18,628,000 after purchasing an additional 134,002 shares in the last quarter. Finally, FMR LLC grew its position in Shenandoah Telecommunications by 13.5% during the 1st quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock worth $42,346,000 after purchasing an additional 113,516 shares in the last quarter. Hedge funds and other institutional investors own 49.04% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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