Shenandoah Telecommunications Co. (shen) Announces $0.25 Annual Dividend
Shenandoah Telecommunications Co. (NASDAQ:shen) declared an annual dividend on Tuesday, October 18th. Stockholders of record on Friday, November 4th will be given a dividend of 0.25 per share on Thursday, December 1st. The ex-dividend date of this dividend is Wednesday, November 2nd.
Shenandoah Telecommunications (NASDAQ:SHEN) opened at 26.55 on Wednesday. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 48.36 and a beta of 1.11. Shenandoah Telecommunications has a 52-week low of $19.18 and a 52-week high of $42.66. The stock has a 50 day moving average of $26.30 and a 200-day moving average of $31.08.
Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Friday, August 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.39. The company had revenue of $130.30 million for the quarter, compared to the consensus estimate of $93.96 million. Shenandoah Telecommunications had a net margin of 6.83% and a return on equity of 16.83%. On average, equities research analysts anticipate that Shenandoah Telecommunications will post $0.38 earnings per share for the current fiscal year.
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SHEN has been the topic of several research analyst reports. Zacks Investment Research cut shares of Shenandoah Telecommunications from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Raymond James Financial Inc. upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research note on Tuesday, August 16th. FBR & Co cut shares of Shenandoah Telecommunications from an “outperform” rating to a “market perform” rating and upped their target price for the company from $31.00 to $35.00 in a research note on Monday, August 8th. Finally, TheStreet cut shares of Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.20.
Several large investors have recently added to or reduced their stakes in SHEN. FMR LLC raised its stake in Shenandoah Telecommunications by 9.7% in the second quarter. FMR LLC now owns 480,900 shares of the company’s stock valued at $18,784,000 after buying an additional 42,600 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Shenandoah Telecommunications by 22.7% in the second quarter. Parametric Portfolio Associates LLC now owns 89,429 shares of the company’s stock valued at $3,493,000 after buying an additional 16,526 shares in the last quarter. Alliancebernstein L.P. raised its stake in Shenandoah Telecommunications by 12.0% in the second quarter. Alliancebernstein L.P. now owns 77,734 shares of the company’s stock valued at $3,036,000 after buying an additional 8,300 shares in the last quarter. Teachers Advisors Inc. raised its stake in Shenandoah Telecommunications by 4.2% in the second quarter. Teachers Advisors Inc. now owns 74,707 shares of the company’s stock valued at $2,918,000 after buying an additional 3,039 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Shenandoah Telecommunications by 14.7% in the second quarter. AQR Capital Management LLC now owns 73,518 shares of the company’s stock valued at $2,872,000 after buying an additional 9,418 shares in the last quarter. 42.05% of the stock is owned by hedge funds and other institutional investors.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company, through its subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers. Its segments include Wireless, which provides digital wireless service to a portion of over four-state area covering the region from Harrisburg, York and Altoona, Pennsylvania, to Harrisonburg, Virginia; Cable segment, which provides video, Internet and voice services in franchise areas in portions of Virginia, West Virginia and western Maryland, and leases fiber optic facilities throughout its service area; Wireline segment, which provides regulated and unregulated voice services, digital subscriber lines Internet access and long distance access services throughout Shenandoah county, and Other segment, which includes operations of the Company.
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