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

Shenandoah Telecommunications Co (NASDAQ:SHEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, August 8th.

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. “

Several other research firms have also issued reports on SHEN. TheStreet lowered shares of Shenandoah Telecommunications from a “b” rating to a “c+” rating in a research note on Thursday, May 4th. BidaskClub raised shares of Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Shenandoah Telecommunications has a consensus rating of “Hold” and an average target price of $35.50.

Shares of Shenandoah Telecommunications (NASDAQ:SHEN) traded down 0.42% during trading on Tuesday, reaching $35.20. The company’s stock had a trading volume of 164,491 shares. The company has a 50 day moving average of $32.05 and a 200 day moving average of $30.22. The company’s market cap is $1.73 billion. Shenandoah Telecommunications has a 12-month low of $22.05 and a 12-month high of $36.80.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Shenandoah Telecommunications had a negative net margin of 0.89% and a positive return on equity of 5.43%. The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $153.83 million. The firm’s revenue was up 17.7% on a year-over-year basis. On average, analysts anticipate that Shenandoah Telecommunications will post $0.10 EPS for the current fiscal year.

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In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $31.75, for a total value of $95,250.00. Following the transaction, the vice president now directly owns 21,621 shares of the company’s stock, valued at approximately $686,466.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.24% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its position in Shenandoah Telecommunications by 0.6% in the first quarter. Creative Planning now owns 16,102 shares of the utilities provider’s stock worth $452,000 after buying an additional 100 shares during the period. Pacad Investment Ltd. raised its position in Shenandoah Telecommunications by 5.0% in the second quarter. Pacad Investment Ltd. now owns 4,200 shares of the utilities provider’s stock worth $129,000 after buying an additional 200 shares during the period. Suntrust Banks Inc. raised its position in Shenandoah Telecommunications by 2.2% in the second quarter. Suntrust Banks Inc. now owns 9,805 shares of the utilities provider’s stock worth $301,000 after buying an additional 209 shares during the period. Toronto Dominion Bank raised its position in Shenandoah Telecommunications by 4.1% in the first quarter. Toronto Dominion Bank now owns 5,860 shares of the utilities provider’s stock worth $165,000 after buying an additional 230 shares during the period. Finally, Alpha Omega Wealth Management LLC raised its position in Shenandoah Telecommunications by 5.5% in the second quarter. Alpha Omega Wealth Management LLC now owns 5,800 shares of the utilities provider’s stock worth $178,000 after buying an additional 300 shares during the period. 49.32% of the stock is currently owned by institutional investors and hedge funds.

About Shenandoah Telecommunications

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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