Shenandoah Telecommunications (SHEN) Rating Lowered to Sell at Zacks Investment Research

Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Shenandoah Telecommunications Company is a holding company which provides a broad range of telecommunications services through its operating subsidiaries. The Company’s operating subsidiaries provide local telephone, cable, Internet access, interexchange facilities, cellular and PCS services, along with many other associated services. “

A number of other research analysts also recently issued reports on SHEN. TheStreet downgraded Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a report on Friday, November 10th. BidaskClub downgraded Shenandoah Telecommunications from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, BWS Financial set a $50.00 price target on Shenandoah Telecommunications and gave the company a “buy” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Shenandoah Telecommunications has an average rating of “Hold” and an average target price of $42.50.

Shenandoah Telecommunications (NASDAQ:SHEN) opened at $32.80 on Friday. The stock has a market capitalization of $1,630.66, a price-to-earnings ratio of 273.33 and a beta of 0.68. The company has a current ratio of 1.34, a quick ratio of 1.28 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 quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The firm had revenue of $151.80 million for the quarter, compared to the consensus estimate of $153.64 million. Shenandoah Telecommunications had a return on equity of 4.04% and a net margin of 0.91%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. analysts predict that Shenandoah Telecommunications will post 0.16 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. lifted its holdings in Shenandoah Telecommunications by 2.2% in the second quarter. Suntrust Banks Inc. now owns 9,805 shares of the utilities provider’s stock valued at $301,000 after acquiring an additional 209 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in Shenandoah Telecommunications by 9.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,079 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 347 shares during the period. Toronto Dominion Bank lifted its holdings in Shenandoah Telecommunications by 13.2% in the second quarter. Toronto Dominion Bank now owns 6,636 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 776 shares during the period. Legal & General Group Plc lifted its holdings in Shenandoah Telecommunications by 4.9% in the second quarter. Legal & General Group Plc now owns 19,232 shares of the utilities provider’s stock valued at $590,000 after acquiring an additional 902 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Shenandoah Telecommunications by 6.8% in the second quarter. Voya Investment Management LLC now owns 21,682 shares of the utilities provider’s stock valued at $666,000 after acquiring an additional 1,373 shares during the period. 48.48% of the stock is currently owned by 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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