Shentel (NASDAQ:SHEN) posted its quarterly earnings results on Thursday, March 15th. The utilities provider reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.09, Morningstar.com reports. The business had revenue of $151.62 million for the quarter, compared to the consensus estimate of $154.19 million. Shentel had a return on equity of 4.16% and a net margin of 10.87%.
Shares of SHEN traded up $0.30 during mid-day trading on Friday, reaching $37.30. The company had a trading volume of 190,517 shares, compared to its average volume of 227,487. Shentel has a 52-week low of $28.00 and a 52-week high of $41.80. The company has a quick ratio of 1.22, a current ratio of 1.26 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $1,832.50, a price-to-earnings ratio of 143.46 and a beta of 0.67.
In other news, Director Ken L. Burch sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $36.30, for a total value of $36,300.00. Following the sale, the director now owns 441,315 shares in the company, valued at $16,019,734.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Raymond B. Ostroski sold 10,000 shares of the company’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $36.77, for a total value of $367,700.00. Following the completion of the sale, the vice president now owns 42,314 shares in the company, valued at approximately $1,555,885.78. The disclosure for this sale can be found here. Insiders sold 21,070 shares of company stock worth $769,859 in the last 90 days. Company insiders own 6.84% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SHEN. Prudential Financial Inc. purchased a new stake in shares of Shentel in the third quarter worth about $1,673,000. Principal Financial Group Inc. purchased a new stake in shares of Shentel in the third quarter worth about $296,000. New York State Common Retirement Fund boosted its stake in shares of Shentel by 8.9% in the third quarter. New York State Common Retirement Fund now owns 53,040 shares of the utilities provider’s stock worth $1,973,000 after buying an additional 4,340 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Shentel during the third quarter worth approximately $138,000. Finally, Mawer Investment Management Ltd. boosted its position in Shentel by 20.5% during the third quarter. Mawer Investment Management Ltd. now owns 1,010,069 shares of the utilities provider’s stock worth $37,575,000 after purchasing an additional 171,670 shares in the last quarter. Hedge funds and other institutional investors own 48.95% of the company’s stock.
SHEN has been the topic of several research analyst reports. BidaskClub downgraded Shentel from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 13th. TheStreet upgraded Shentel from a “c” rating to a “b” rating in a research note on Thursday, March 15th. BWS Financial set a $50.00 price target on Shentel and gave the company a “buy” rating in a research note on Wednesday, January 24th. Zacks Investment Research downgraded Shentel from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Finally, ValuEngine upgraded Shentel from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Shentel currently has a consensus rating of “Buy” and an average target price of $47.00.
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Shentel Company Profile
Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to customers and other telecommunications providers in central and western Virginia, south-central Pennsylvania, West Virginia, Maryland, North Carolina, Kentucky, Tennessee, and Ohio.
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