Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 1-Year Low Following Weak Earnings

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) shares hit a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $9.77 and last traded at $10.36, with a volume of 88642 shares trading hands. The stock had previously closed at $11.82.

The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). Shenandoah Telecommunications had a net margin of 62.67% and a negative return on equity of 1.45%. The business had revenue of $85.41 million for the quarter, compared to the consensus estimate of $89.65 million.

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SHEN. Quest Partners LLC lifted its stake in Shenandoah Telecommunications by 741.0% in the 3rd quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider's stock worth $108,000 after purchasing an additional 6,728 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Shenandoah Telecommunications in the 3rd quarter worth about $678,000. Intech Investment Management LLC bought a new stake in shares of Shenandoah Telecommunications in the 3rd quarter worth about $1,113,000. FMR LLC increased its holdings in shares of Shenandoah Telecommunications by 211.9% in the 3rd quarter. FMR LLC now owns 105,789 shares of the utilities provider's stock worth $1,493,000 after buying an additional 71,868 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in shares of Shenandoah Telecommunications by 570.2% in the 3rd quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider's stock worth $104,000 after buying an additional 6,244 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company's stock.

Shenandoah Telecommunications Stock Performance

The business's fifty day moving average price is $11.97 and its two-hundred day moving average price is $13.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $588.59 million, a P/E ratio of 2.77 and a beta of 0.61.

Shenandoah Telecommunications Company Profile

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. It operates in two segments, Broadband and Tower. The company Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky through hybrid fiber coaxial cable under the Shentel brand; and fiber optic services under the Glo Fiber brand name.