Shenandoah Telecommunications’ (SHEN) “Hold” Rating Reaffirmed at Macquarie

Macquarie reiterated their hold rating on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research report released on Sunday morning, AnalystRatings.com reports. Macquarie currently has a $47.00 price objective on the utilities provider’s stock.

Other equities research analysts have also issued reports about the company. B. Riley raised their price objective on Shenandoah Telecommunications from $50.00 to $54.00 and gave the company a buy rating in a research note on Friday, March 1st. BWS Financial reaffirmed a buy rating on shares of Shenandoah Telecommunications in a research note on Monday, January 28th. BidaskClub lowered Shenandoah Telecommunications from a strong-buy rating to a buy rating in a research note on Wednesday, January 16th. ValuEngine lowered Shenandoah Telecommunications from a strong-buy rating to a buy rating in a research note on Friday, April 5th. Finally, Zacks Investment Research lowered Shenandoah Telecommunications from a buy rating to a hold rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Shenandoah Telecommunications currently has a consensus rating of Hold and a consensus price target of $50.67.

NASDAQ:SHEN opened at $41.61 on Friday. The company has a market capitalization of $2.05 billion, a PE ratio of 44.74 and a beta of 0.42. Shenandoah Telecommunications has a 1 year low of $29.92 and a 1 year high of $51.41. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.58 and a quick ratio of 2.31.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. The business had revenue of $158.84 million during the quarter, compared to analyst estimates of $163.97 million. Shenandoah Telecommunications had a return on equity of 11.86% and a net margin of 8.23%. Research analysts expect that Shenandoah Telecommunications will post 1.27 EPS for the current fiscal year.

In related news, VP Raymond B. Ostroski sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $45.76, for a total transaction of $457,600.00. Following the completion of the sale, the vice president now directly owns 18,575 shares of the company’s stock, valued at approximately $849,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.70% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in shares of Shenandoah Telecommunications by 5.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,468,800 shares of the utilities provider’s stock worth $65,156,000 after acquiring an additional 70,300 shares during the last quarter. FMR LLC increased its holdings in Shenandoah Telecommunications by 88.1% during the 4th quarter. FMR LLC now owns 841,098 shares of the utilities provider’s stock worth $37,218,000 after purchasing an additional 393,942 shares during the period. Norges Bank purchased a new position in Shenandoah Telecommunications during the 4th quarter worth $37,146,000. Northern Trust Corp increased its holdings in Shenandoah Telecommunications by 0.6% during the 1st quarter. Northern Trust Corp now owns 731,226 shares of the utilities provider’s stock worth $32,438,000 after purchasing an additional 4,544 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Shenandoah Telecommunications by 9.5% during the 1st quarter. Geode Capital Management LLC now owns 581,007 shares of the utilities provider’s stock worth $25,773,000 after purchasing an additional 50,449 shares during the period. 49.28% of the stock is owned by hedge funds and other institutional investors.

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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