Shenandoah Telecommunications (NASDAQ:SHEN) Reaches New 52-Week Low at $32.76

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $32.76 and last traded at $32.79, with a volume of 92065 shares. The stock had previously closed at $33.72.

Several equities research analysts have recently issued reports on SHEN shares. Macquarie restated a “hold” rating and set a $47.00 price target on shares of Shenandoah Telecommunications in a research note on Sunday, May 12th. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. BidaskClub lowered shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 6th. TheStreet lowered shares of Shenandoah Telecommunications from a “b-” rating to a “c” rating in a research note on Tuesday, May 28th. Finally, Raymond James upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Shenandoah Telecommunications presently has an average rating of “Hold” and a consensus price target of $49.00.

The company’s fifty day moving average is $37.67 and its 200 day moving average is $42.15. The company has a market capitalization of $1.71 billion, a P/E ratio of 35.26 and a beta of 0.33. The company has a current ratio of 1.74, a quick ratio of 1.69 and a debt-to-equity ratio of 2.27.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Shenandoah Telecommunications had a net margin of 9.00% and a return on equity of 12.75%. The firm had revenue of $158.91 million during the quarter, compared to the consensus estimate of $162.23 million. Equities research analysts predict that Shenandoah Telecommunications will post 1.16 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in Shenandoah Telecommunications by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 17,087 shares of the utilities provider’s stock valued at $756,000 after purchasing an additional 452 shares during the period. Legal & General Group Plc increased its holdings in Shenandoah Telecommunications by 5.6% during the 4th quarter. Legal & General Group Plc now owns 18,608 shares of the utilities provider’s stock worth $823,000 after purchasing an additional 991 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Shenandoah Telecommunications by 471.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,761 shares of the utilities provider’s stock worth $166,000 after purchasing an additional 3,103 shares during the last quarter. FMR LLC increased its holdings in Shenandoah Telecommunications by 88.1% during the 4th quarter. FMR LLC now owns 841,098 shares of the utilities provider’s stock worth $37,218,000 after purchasing an additional 393,942 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Shenandoah Telecommunications by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 530,558 shares of the utilities provider’s stock worth $23,476,000 after purchasing an additional 32,327 shares during the last quarter. 49.28% of the stock is owned by hedge funds and other institutional investors.

About Shenandoah Telecommunications (NASDAQ:SHEN)

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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