Shenandoah Telecommunications Co (SHEN) Increases Dividend to $0.26 Per Share
Shenandoah Telecommunications Co (NASDAQ:SHEN) declared an annual dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Friday, November 3rd will be given a dividend of 0.26 per share by the utilities provider on Friday, December 1st. This represents a yield of 0.65%. The ex-dividend date of this dividend is Thursday, November 2nd. This is a boost from Shenandoah Telecommunications’s previous annual dividend of $0.25.
Shenandoah Telecommunications (NASDAQ SHEN) remained flat at $39.75 during trading on Thursday. The company had a trading volume of 95,155 shares. Shenandoah Telecommunications has a 52-week low of $22.05 and a 52-week high of $41.80. The company has a 50-day moving average of $37.65 and a 200 day moving average of $33.46. The company’s market cap is $1.95 billion.
Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. The firm had revenue of $153.30 million for the quarter, compared to analysts’ expectations of $153.83 million. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The company’s revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that Shenandoah Telecommunications will post $0.11 earnings per share for the current fiscal year.
In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $38.93, for a total transaction of $1,790,780.00. Following the transaction, the insider now owns 118,047 shares of the company’s stock, valued at approximately $4,595,569.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.24% of the stock is owned by insiders.
Several equities research analysts have commented on SHEN shares. BidaskClub upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. Finally, ValuEngine upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $35.00.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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