Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 12-Month Low – Here’s What Happened

Shenandoah Telecommunications (NASDAQ:SHEN) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.42 and last traded at $10.67, with a volume of 9887 shares traded. The stock had previously closed at $10.50.

Wall Street Analyst Weigh In

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

Shenandoah Telecommunications Stock Up 6.5 %

The stock has a market capitalization of $630.08 million, a price-to-earnings ratio of 2.97 and a beta of 0.61. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $12.42 and a two-hundred day moving average of $14.09.

Shenandoah Telecommunications (NASDAQ:SHEN) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%. The company had revenue of $87.60 million during the quarter, compared to analysts’ expectations of $88.80 million. During the same period last year, the company earned $0.03 earnings per share. As a group, sell-side analysts anticipate that Shenandoah Telecommunications will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHEN. Smartleaf Asset Management LLC grew its holdings in shares of Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 3,531 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Shenandoah Telecommunications during the fourth quarter valued at $260,000. Bank of New York Mellon Corp grew its stake in Shenandoah Telecommunications by 8.3% in the fourth quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock valued at $5,732,000 after purchasing an additional 34,740 shares in the last quarter. Private Advisor Group LLC acquired a new position in Shenandoah Telecommunications in the 4th quarter worth about $2,379,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Shenandoah Telecommunications by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 222,588 shares of the utilities provider’s stock valued at $2,807,000 after buying an additional 6,323 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

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.