Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.
Separately, BWS Financial raised shares of Shenandoah Telecommunications from a “sell” rating to a “neutral” rating and set a $20.00 price objective for the company in a report on Friday, August 4th.
Read Our Latest Analysis on SHEN
Shenandoah Telecommunications Stock Performance
Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $71.34 million during the quarter, compared to the consensus estimate of $70.19 million. Shenandoah Telecommunications had a negative net margin of 0.25% and a positive return on equity of 0.03%. As a group, equities analysts anticipate that Shenandoah Telecommunications will post 0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Shenandoah Telecommunications
Large investors have recently bought and sold shares of the stock. PAX Financial Group LLC acquired a new position in Shenandoah Telecommunications during the 4th quarter valued at $488,000. Broad Run Investment Management LLC raised its stake in Shenandoah Telecommunications by 10.1% during the 4th quarter. Broad Run Investment Management LLC now owns 1,069,607 shares of the utilities provider’s stock valued at $16,985,000 after purchasing an additional 98,028 shares during the last quarter. Kalos Management Inc. acquired a new position in Shenandoah Telecommunications during the 1st quarter valued at $68,000. Creative Planning raised its stake in Shenandoah Telecommunications by 2.5% during the 4th quarter. Creative Planning now owns 88,834 shares of the utilities provider’s stock valued at $1,411,000 after purchasing an additional 2,192 shares during the last quarter. Finally, CWM LLC raised its stake in Shenandoah Telecommunications by 7.1% during the 1st quarter. CWM LLC now owns 84,918 shares of the utilities provider’s stock valued at $1,615,000 after purchasing an additional 5,658 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds.
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. Its 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.
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