Shenandoah Telecommunications’ (SHEN) “Buy” Rating Reiterated at BWS Financial

BWS Financial restated their buy rating on shares of Shenandoah Telecommunications (NASDAQ:SHEN) in a research note released on Tuesday,Benzinga reports. BWS Financial currently has a $26.00 target price on the utilities provider’s stock.

Shenandoah Telecommunications Stock Performance

SHEN stock opened at $10.75 on Tuesday. Shenandoah Telecommunications has a twelve month low of $9.77 and a twelve month high of $21.89. The firm has a market cap of $587.73 million, a price-to-earnings ratio of 2.84 and a beta of 0.61. The business’s fifty day simple moving average is $11.74 and its two-hundred day simple moving average is $13.25. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.44.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $85.41 million during the quarter, compared to analysts’ expectations of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 2.50% and a net margin of 58.03%. Analysts predict that Shenandoah Telecommunications will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Shenandoah Telecommunications by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,716 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 1,061 shares during the period. Nebula Research & Development LLC raised its stake in Shenandoah Telecommunications by 5.5% in the fourth quarter. Nebula Research & Development LLC now owns 22,076 shares of the utilities provider’s stock worth $278,000 after buying an additional 1,147 shares in the last quarter. PAX Financial Group LLC lifted its holdings in Shenandoah Telecommunications by 3.8% during the fourth quarter. PAX Financial Group LLC now owns 37,118 shares of the utilities provider’s stock worth $468,000 after buying an additional 1,353 shares during the period. Tower Research Capital LLC TRC boosted its position in Shenandoah Telecommunications by 11.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,735 shares of the utilities provider’s stock valued at $173,000 after acquiring an additional 1,380 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Shenandoah Telecommunications by 5.9% in the 4th quarter. LPL Financial LLC now owns 38,461 shares of the utilities provider’s stock valued at $485,000 after acquiring an additional 2,143 shares during the period. 61.96% of the stock is currently owned by institutional investors.

About Shenandoah Telecommunications

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.