Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

SHEN has been the subject of several other research reports. TheStreet downgraded shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Zacks Investment Research raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, ValuEngine raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Shenandoah Telecommunications currently has a consensus rating of “Hold” and an average target price of $35.00.

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) traded up $0.10 during mid-day trading on Wednesday, hitting $34.55. 124,172 shares of the company traded hands, compared to its average volume of 113,891. The company has a market cap of $1,702.11, a P/E ratio of 138.20 and a beta of 0.67. The company has a quick ratio of 1.28, a current ratio of 1.34 and a debt-to-equity ratio of 2.60. Shenandoah Telecommunications has a 1-year low of $25.35 and a 1-year high of $41.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $151.80 million during the quarter, compared to the consensus estimate of $153.64 million. Shenandoah Telecommunications had a net margin of 0.91% and a return on equity of 4.04%. Shenandoah Telecommunications’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) EPS. equities research analysts anticipate that Shenandoah Telecommunications will post 0.16 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 dated Monday, September 25th. The shares were sold at an average price of $38.93, for a total value of $1,790,780.00. Following the completion of the sale, 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 is accessible through the SEC website. Insiders own 7.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SHEN. The Manufacturers Life Insurance Company boosted its holdings in Shenandoah Telecommunications by 1,399.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock valued at $16,510,000 after purchasing an additional 501,920 shares during the period. Mawer Investment Management Ltd. boosted its holdings in Shenandoah Telecommunications by 20.5% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,010,069 shares of the utilities provider’s stock valued at $37,575,000 after purchasing an additional 171,670 shares during the period. State Street Corp boosted its holdings in Shenandoah Telecommunications by 5.7% in the 2nd quarter. State Street Corp now owns 946,221 shares of the utilities provider’s stock valued at $29,048,000 after purchasing an additional 50,603 shares during the period. Vanguard Group Inc. boosted its holdings in Shenandoah Telecommunications by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,720,805 shares of the utilities provider’s stock valued at $114,229,000 after purchasing an additional 47,212 shares during the period. Finally, Prudential Financial Inc. bought a new stake in Shenandoah Telecommunications in the 3rd quarter valued at about $1,673,000. 52.64% of the stock is owned by hedge funds and other institutional investors.

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Shenandoah Telecommunications Company Profile

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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