Shenandoah Telecommunications (NASDAQ:SHEN) Trading 4.9% Higher - Here's Why

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) shares rose 4.9% during mid-day trading on Monday . The company traded as high as $11.23 and last traded at $11.30. Approximately 107,614 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 206,914 shares. The stock had previously closed at $10.78.

Analyst Upgrades and Downgrades

Separately, BWS Financial reissued a "buy" rating and issued a $26.00 target price on shares of Shenandoah Telecommunications in a report on Tuesday.

Shenandoah Telecommunications Stock Performance

The firm has a market capitalization of $583.36 million, a P/E ratio of 2.82 and a beta of 0.61. The stock has a 50-day moving average of $11.78 and a 200 day moving average of $13.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.79 and a current ratio of 0.82.

Shenandoah Telecommunications (NASDAQ:SHEN - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The business had revenue of $85.41 million for the quarter, compared to the consensus estimate of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. On average, research analysts anticipate that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Remove Ads

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider's stock valued at $69,731,000 after buying an additional 68,133 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Shenandoah Telecommunications by 16.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider's stock valued at $12,770,000 after purchasing an additional 140,314 shares during the period. Northern Trust Corp raised its stake in shares of Shenandoah Telecommunications by 1.3% in the 4th quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider's stock valued at $6,607,000 after purchasing an additional 6,904 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Shenandoah Telecommunications by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider's stock valued at $5,732,000 after acquiring an additional 34,740 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Shenandoah Telecommunications by 12.5% in the 4th quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider's stock valued at $5,463,000 after acquiring an additional 48,233 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

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.