Brokerages forecast that Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) will report sales of $64.25 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Shenandoah Telecommunications’ earnings. The lowest sales estimate is $63.00 million and the highest is $65.15 million. Shenandoah Telecommunications reported sales of $60.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Shenandoah Telecommunications will report full year sales of $258.48 million for the current year, with estimates ranging from $256.30 million to $261.40 million. For the next financial year, analysts expect that the business will report sales of $284.55 million, with estimates ranging from $280.60 million to $288.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Shenandoah Telecommunications.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Shenandoah Telecommunications had a net margin of 378.97% and a return on equity of 1.64%. The firm had revenue of $64.41 million for the quarter, compared to the consensus estimate of $62.72 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share.
Several research analysts have recently commented on SHEN shares. B. Riley downgraded Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $21.00 in a report on Monday, May 2nd. They noted that the move was a valuation call. StockNews.com initiated coverage on Shenandoah Telecommunications in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Raymond James upgraded shares of Shenandoah Telecommunications from an “outperform” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Tuesday, May 3rd. BWS Financial cut shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.25 to $16.00 in a research report on Wednesday, March 2nd. Finally, Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.67.
In other Shenandoah Telecommunications news, President Christopher E. French purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were bought at an average price of $19.37 per share, for a total transaction of $201,448.00. Following the completion of the acquisition, the president now owns 200,426 shares in the company, valued at $3,882,251.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.04% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in SHEN. FMR LLC lifted its holdings in Shenandoah Telecommunications by 13.5% in the first quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock valued at $42,346,000 after buying an additional 113,516 shares during the period. First Trust Advisors LP increased its stake in Shenandoah Telecommunications by 121.0% in the first quarter. First Trust Advisors LP now owns 119,473 shares of the utilities provider’s stock valued at $5,300,000 after purchasing an additional 65,409 shares in the last quarter. Millennium Management LLC increased its stake in Shenandoah Telecommunications by 61.2% in the second quarter. Millennium Management LLC now owns 12,640 shares of the utilities provider’s stock valued at $613,000 after purchasing an additional 4,800 shares in the last quarter. Morgan Stanley increased its stake in Shenandoah Telecommunications by 16.4% in the second quarter. Morgan Stanley now owns 302,296 shares of the utilities provider’s stock valued at $14,666,000 after purchasing an additional 42,616 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Shenandoah Telecommunications by 18.8% in the third quarter. Advisor Group Holdings Inc. now owns 4,402 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 696 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.
SHEN stock opened at $23.13 on Friday. Shenandoah Telecommunications has a 1-year low of $17.06 and a 1-year high of $61.53. The firm has a market cap of $1.16 billion, a P/E ratio of 1.22 and a beta of 0.38. The business’s 50 day moving average is $22.50 and its 200-day moving average is $23.33.
About Shenandoah Telecommunications (Get Rating)
Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.
Further Reading
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