Shenandoah Telecommunications (NASDAQ:SHEN) Receives $48.33 Average Price Target from Brokerages

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) have been given a consensus rating of “Buy” by the eight analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $45.75.

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Several research firms have recently commented on SHEN. B. Riley reduced their target price on shares of Shenandoah Telecommunications from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of Shenandoah Telecommunications from a “sell” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Thursday. Raymond James upgraded shares of Shenandoah Telecommunications from a “market perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, August 7th. BidaskClub cut shares of Shenandoah Telecommunications from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th. Finally, ValuEngine upgraded shares of Shenandoah Telecommunications from a “hold” rating to a “buy” rating in a research note on Saturday, October 5th.

Shares of Shenandoah Telecommunications stock traded down $0.41 during trading hours on Tuesday, hitting $37.45. The company had a trading volume of 725,300 shares, compared to its average volume of 218,651. Shenandoah Telecommunications has a twelve month low of $29.61 and a twelve month high of $51.41. The company has a market cap of $1.98 billion, a P/E ratio of 40.27 and a beta of 0.34. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.68 and a quick ratio of 1.64. The company’s 50-day moving average is $32.08 and its two-hundred day moving average is $36.48.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Shenandoah Telecommunications had a return on equity of 12.28% and a net margin of 8.87%. The firm had revenue of $155.15 million during the quarter, compared to analyst estimates of $163.96 million. Sell-side analysts expect that Shenandoah Telecommunications will post 1.14 EPS for the current year.

The business also recently declared an annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a $0.29 dividend. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 13th. This is an increase from Shenandoah Telecommunications’s previous annual dividend of $0.27. Shenandoah Telecommunications’s dividend payout ratio (DPR) is currently 29.03%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC increased its holdings in shares of Shenandoah Telecommunications by 39.0% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,207,950 shares of the utilities provider’s stock valued at $38,377,000 after purchasing an additional 338,910 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at about $68,000. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Shenandoah Telecommunications by 144.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 123,355 shares of the utilities provider’s stock valued at $3,919,000 after purchasing an additional 72,790 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Shenandoah Telecommunications by 18.4% in the 3rd quarter. California Public Employees Retirement System now owns 94,497 shares of the utilities provider’s stock valued at $3,002,000 after purchasing an additional 14,697 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Shenandoah Telecommunications in the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 49.04% of the company’s stock.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, through its subsidiaries, primarily provides wireless, cable, and wireline telecommunications services to customers and other telecommunications providers. The company operates in three segments: Wireless, Cable, and Wireline. The Wireless segment provides digital wireless mobile services; and wireless mobility communications network products and services.

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