FY2022 EPS Estimates for Shenandoah Telecommunications (NASDAQ:SHEN) Cut by B. Riley

Shenandoah Telecommunications (NASDAQ:SHEN) – Research analysts at B. Riley reduced their FY2022 EPS estimates for shares of Shenandoah Telecommunications in a research note issued to investors on Tuesday, January 11th. B. Riley analyst D. Day now anticipates that the utilities provider will post earnings per share of $0.27 for the year, down from their prior estimate of $0.28. B. Riley also issued estimates for Shenandoah Telecommunications’ FY2024 earnings at $1.02 EPS.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Friday. Raymond James raised Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $29.00 price objective for the company in a report on Tuesday, December 14th.

Shares of SHEN opened at $24.39 on Thursday. The stock has a 50 day moving average price of $26.31 and a 200 day moving average price of $32.92. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 1.17 and a beta of 0.23. Shenandoah Telecommunications has a 52-week low of $24.36 and a 52-week high of $61.53.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Thursday, October 28th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.24. The firm had revenue of $62.24 million during the quarter, compared to the consensus estimate of $61.91 million. Shenandoah Telecommunications had a return on equity of 2.07% and a net margin of 434.98%. During the same period in the prior year, the company posted $0.03 earnings per share.

Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Shenandoah Telecommunications by 241.7% during the second quarter. Amalgamated Bank now owns 24,930 shares of the utilities provider’s stock worth $1,209,000 after purchasing an additional 17,635 shares during the last quarter. Citigroup Inc. raised its stake in shares of Shenandoah Telecommunications by 407.0% during the second quarter. Citigroup Inc. now owns 27,405 shares of the utilities provider’s stock worth $1,329,000 after purchasing an additional 22,000 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Shenandoah Telecommunications by 77.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 164,867 shares of the utilities provider’s stock worth $5,206,000 after purchasing an additional 71,950 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Shenandoah Telecommunications by 22.0% during the second quarter. Bank of Montreal Can now owns 17,605 shares of the utilities provider’s stock worth $865,000 after purchasing an additional 3,174 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Shenandoah Telecommunications by 4.1% during the second quarter. Geode Capital Management LLC now owns 882,383 shares of the utilities provider’s stock worth $42,804,000 after purchasing an additional 34,822 shares during the last quarter. Institutional investors and hedge funds own 54.54% of the company’s stock.

The company also recently disclosed an annual dividend, which was paid on Wednesday, December 1st. Stockholders of record on Monday, November 8th were issued a $0.07 dividend. This represents a dividend yield of 0.26%. The ex-dividend date was Friday, November 5th. Shenandoah Telecommunications’s payout ratio is currently 0.34%.

About Shenandoah Telecommunications

Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.

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Earnings History and Estimates for Shenandoah Telecommunications (NASDAQ:SHEN)

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