Shenandoah Telecommunications (SHEN) Lifted to “Strong-Buy” at Zacks Investment Research

Shenandoah Telecommunications (NASDAQ:SHEN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The brokerage presently has a $51.00 target price on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.30% from the stock’s current price.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

Several other equities analysts have also issued reports on the stock. B. Riley began coverage on shares of Shenandoah Telecommunications in a report on Thursday, September 13th. They issued a “buy” rating and a $46.00 price target on the stock. ValuEngine raised shares of Shenandoah Telecommunications from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 10th. BidaskClub raised shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a report on Saturday, August 11th. Finally, TheStreet raised shares of Shenandoah Telecommunications from a “c+” rating to a “b-” rating in a report on Friday, August 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Shenandoah Telecommunications presently has a consensus rating of “Buy” and an average price target of $50.33.

NASDAQ SHEN traded up $0.81 on Thursday, hitting $46.66. The stock had a trading volume of 8,084 shares, compared to its average volume of 148,090. The company has a current ratio of 1.50, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. Shenandoah Telecommunications has a 52-week low of $29.92 and a 52-week high of $46.09. The firm has a market capitalization of $2.22 billion, a P/E ratio of 181.23 and a beta of 0.24.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Tuesday, November 6th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.16. Shenandoah Telecommunications had a net margin of 14.41% and a return on equity of 8.73%. The business had revenue of $158.73 million for the quarter, compared to analyst estimates of $156.14 million. As a group, sell-side analysts predict that Shenandoah Telecommunications will post 0.81 earnings per share for the current fiscal year.

In other Shenandoah Telecommunications news, SVP Edward H. Mckay sold 5,215 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $37.15, for a total value of $193,737.25. Following the sale, the senior vice president now directly owns 17,959 shares of the company’s stock, valued at $667,176.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Edward H. Mckay sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $36.75, for a total transaction 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 $659,993.25. The disclosure for this sale can be found here. Insiders have sold 20,215 shares of company stock worth $813,037 over the last three months. Corporate insiders own 6.84% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Shenandoah Telecommunications by 2.4% in the third quarter. BlackRock Inc. now owns 3,404,804 shares of the utilities provider’s stock valued at $131,936,000 after purchasing an additional 81,378 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Shenandoah Telecommunications by 5.9% in the third quarter. Renaissance Technologies LLC now owns 1,212,700 shares of the utilities provider’s stock valued at $46,992,000 after purchasing an additional 67,100 shares during the last quarter. Northern Trust Corp boosted its holdings in Shenandoah Telecommunications by 1.4% in the second quarter. Northern Trust Corp now owns 728,109 shares of the utilities provider’s stock valued at $23,808,000 after purchasing an additional 10,049 shares during the last quarter. FMR LLC boosted its holdings in Shenandoah Telecommunications by 10.9% in the second quarter. FMR LLC now owns 452,156 shares of the utilities provider’s stock valued at $14,786,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Shenandoah Telecommunications by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 323,432 shares of the utilities provider’s stock valued at $12,534,000 after purchasing an additional 11,708 shares during the last quarter. 47.21% of the stock is currently 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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