BidaskClub downgraded shares of Shenandoah Telecommunications (NASDAQ:SHEN) from a strong-buy rating to a buy rating in a report issued on Saturday morning.
Other analysts also recently issued reports about the stock. TheStreet raised shares of Shenandoah Telecommunications from a c+ rating to a b- rating in a report on Friday, August 24th. Zacks Investment Research raised shares of Shenandoah Telecommunications from a sell rating to a buy rating and set a $41.00 price target for the company in a report on Saturday, August 11th. Finally, B. Riley started coverage on shares of Shenandoah Telecommunications in a report on Thursday, September 13th. They issued a buy rating and a $46.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Shenandoah Telecommunications presently has a consensus rating of Buy and an average target price of $45.67.
Shares of Shenandoah Telecommunications stock opened at $41.40 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 1.71. Shenandoah Telecommunications has a fifty-two week low of $29.92 and a fifty-two week high of $43.28. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 159.23 and a beta of 0.24.
Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. Shenandoah Telecommunications had a net margin of 12.60% and a return on equity of 6.34%. On average, equities research analysts expect that Shenandoah Telecommunications will post 0.57 earnings per share for the current fiscal year.
The firm also recently disclosed an annual dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 12th will be issued a dividend of $0.27 per share. This represents a dividend yield of 0.71%. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.26. The ex-dividend date of this dividend is Thursday, November 8th. Shenandoah Telecommunications’s dividend payout ratio (DPR) is presently 100.00%.
In other news, VP Raymond B. Ostroski sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $38.75, for a total transaction of $193,750.00. Following the completion of the transaction, the vice president now directly owns 15,364 shares of the company’s stock, valued at approximately $595,355. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Raymond B. Ostroski sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $36.53, for a total transaction of $328,770.00. Following the transaction, the vice president now directly owns 24,364 shares of the company’s stock, valued at $890,016.92. The disclosure for this sale can be found here. Insiders have sold a total of 21,215 shares of company stock valued at $789,757 over the last ninety days. 6.84% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in shares of Shenandoah Telecommunications by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 46,763 shares of the utilities provider’s stock worth $1,529,000 after acquiring an additional 1,495 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Shenandoah Telecommunications by 30.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 12,814 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 3,007 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Shenandoah Telecommunications by 17.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 23,367 shares of the utilities provider’s stock worth $764,000 after acquiring an additional 3,392 shares during the period. Bessemer Group Inc. bought a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth about $140,000. Finally, JNBA Financial Advisors bought a new position in shares of Shenandoah Telecommunications during the 3rd quarter worth about $186,000. 47.14% of the stock is owned by institutional investors.
Shenandoah Telecommunications 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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