Shenandoah Telecommunications Co (SHEN) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Shenandoah Telecommunications Co (NASDAQ:SHEN) released its earnings results on Thursday. The utilities provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.08, Briefing.com reports. The firm had revenue of $151.80 million for the quarter, compared to the consensus estimate of $153.64 million. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS.
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be given a $0.26 dividend. This represents a yield of 0.65%. The ex-dividend date is Thursday, November 2nd. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.25. Shenandoah Telecommunications’s dividend payout ratio is -227.27%.
SHEN has been the topic of several research analyst reports. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, BidaskClub raised Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.00.
In other Shenandoah Telecommunications news, insider Earle A. Mackenzie sold 46,000 shares of Shenandoah Telecommunications stock in a transaction on Monday, September 25th. The stock was sold at an average price of $38.93, for a total value of $1,790,780.00. Following the sale, the insider now owns 118,047 shares in the company, valued at $4,595,569.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.24% of the stock is owned by insiders.
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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