TheStreet Upgrades Shentel (SHEN) to “B”

TheStreet upgraded shares of Shentel (NASDAQ:SHEN) from a c rating to a b rating in a report issued on Thursday, March 15th.

Several other research firms have also recently issued reports on SHEN. BidaskClub cut shares of Shentel from a buy rating to a hold rating in a research note on Wednesday, December 6th. Zacks Investment Research cut shares of Shentel from a hold rating to a sell rating in a research note on Saturday, January 27th. Finally, BWS Financial set a $50.00 target price on shares of Shentel and gave the stock a buy rating in a research report on Wednesday, January 24th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $47.00.

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Shares of Shentel stock traded up $0.30 during mid-day trading on Thursday, hitting $37.30. 190,517 shares of the stock were exchanged, compared to its average volume of 227,487. Shentel has a twelve month low of $28.00 and a twelve month high of $41.80. The stock has a market capitalization of $1,847.36, a P/E ratio of 143.46 and a beta of 0.67. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.26 and a quick ratio of 1.22.

Shentel (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, March 15th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.09. Shentel had a net margin of 10.87% and a return on equity of 4.16%. The company had revenue of $151.62 million for the quarter, compared to analysts’ expectations of $154.19 million. analysts forecast that Shentel will post 0.54 EPS for the current year.

In related news, Director Ken L. Burch sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $36.30, for a total value of $36,300.00. Following the sale, the director now directly owns 441,315 shares of the company’s stock, valued at $16,019,734.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward H. Mckay sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $36.31, for a total transaction of $363,100.00. Following the completion of the sale, the senior vice president now directly owns 50,616 shares in the company, valued at $1,837,866.96. The disclosure for this sale can be found here. Insiders sold 21,070 shares of company stock worth $769,859 over the last three months. Corporate insiders own 6.84% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank raised its holdings in Shentel by 2.9% in the fourth quarter. Swiss National Bank now owns 78,572 shares of the utilities provider’s stock valued at $2,656,000 after buying an additional 2,200 shares during the period. SG Americas Securities LLC purchased a new position in Shentel in the fourth quarter valued at approximately $405,000. Schwab Charles Investment Management Inc. raised its holdings in Shentel by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 231,240 shares of the utilities provider’s stock valued at $7,816,000 after buying an additional 10,145 shares during the period. Prudential Financial Inc. purchased a new position in Shentel in the third quarter valued at approximately $1,673,000. Finally, Wells Fargo & Company MN raised its holdings in Shentel by 28.1% in the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock valued at $3,196,000 after buying an additional 18,862 shares during the period. Hedge funds and other institutional investors own 48.95% of the company’s stock.

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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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