Shenandoah Telecommunications (NASDAQ:SHEN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $39.71 and last traded at $38.42, with a volume of 2117 shares changing hands. The stock had previously closed at $39.41.
SHEN has been the subject of several recent analyst reports. BidaskClub lowered Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Zacks Investment Research lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Saturday, July 28th. TheStreet raised Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Finally, B. Riley initiated coverage on Shenandoah Telecommunications in a research report on Thursday, September 13th. They issued a “buy” rating and a $46.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Shenandoah Telecommunications has a consensus rating of “Buy” and a consensus price target of $45.67.
The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $1.95 billion, a PE ratio of 147.23 and a beta of 0.24.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Tuesday, August 7th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm had revenue of $154.03 million during the quarter, compared to analyst estimates of $152.83 million. Shenandoah Telecommunications had a return on equity of 6.34% and a net margin of 12.60%. As a group, analysts predict that Shenandoah Telecommunications will post 0.57 earnings per share for the current year.
The business also recently declared an annual dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 12th will be given a $0.27 dividend. This represents a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from Shenandoah Telecommunications’s previous annual dividend of $0.26. Shenandoah Telecommunications’s payout ratio is currently 100.00%.
In related news, SVP Edward H. Mckay sold 2,000 shares of Shenandoah Telecommunications stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $36.75, for a total value of $73,500.00. Following the completion of the sale, the senior vice president now directly owns 17,959 shares in the company, valued at approximately $659,993.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Raymond B. Ostroski sold 9,000 shares of Shenandoah Telecommunications stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $36.53, for a total value of $328,770.00. Following the completion of the sale, the vice president now owns 24,364 shares of the company’s stock, valued at $890,016.92. The disclosure for this sale can be found here. Insiders sold a total of 21,215 shares of company stock valued at $789,757 over the last quarter. 6.84% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in Shenandoah Telecommunications by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 46,763 shares of the utilities provider’s stock worth $1,529,000 after buying an additional 1,495 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Shenandoah Telecommunications by 30.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock worth $419,000 after buying an additional 3,007 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in Shenandoah Telecommunications by 17.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 23,367 shares of the utilities provider’s stock worth $764,000 after buying an additional 3,392 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of Shenandoah Telecommunications during the 3rd quarter valued at about $186,000. Finally, First Trust Advisors LP grew its stake in shares of Shenandoah Telecommunications by 7.0% during the 2nd quarter. First Trust Advisors LP now owns 75,258 shares of the utilities provider’s stock valued at $2,461,000 after purchasing an additional 4,932 shares during the period. Institutional investors own 47.14% of the company’s stock.
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Shenandoah Telecommunications Company Profile (NASDAQ:SHEN)
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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