Shenandoah Telecommunications Rating (NASDAQ: SHEN) improved by Raymond James

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Shenandoah Telecommunications (NASDAQ: SHEN) was upgraded by research analysts at Raymond James from a “market performance” rating to an “outperformance” rating in a research note released to investors Tuesday, Analyst Price Targets reports. The company currently has a target price of $ 29.00 on shares of the utility provider. Raymond James’ target price would suggest a potential rise of 14.35% from the stock’s previous close.

A number of other equity research analysts have also weighed on the company recently. Zacks Investment Research downgraded Shenandoah Telecommunications from a “keep” rating to a “sell” rating in a research report released on Wednesday, October 20. B. Riley raised his price target on Shenandoah Telecommunications from $ 41.00 to $ 43.00 and gave the stock a “buy” rating in a research report published on Monday, November 1. Finally, TheStreet downgraded Shenandoah Telecommunications from a “c-” rating to a “d +” rating in a research report on Monday, August 16. One equity research analyst rated the stock with a sell rating, another assigned a conservation rating, and two assigned a buy rating to the company. According to MarketBeat data, Shenandoah Telecommunications has a consensus rating of “Hold” and an average target price of $ 39.00.

Shenandoah Telecommunications stock opened at $ 25.36 on Tuesday. The company’s 50-day simple moving average is $ 28.39 and its 200-day simple moving average is $ 36.73. The company has a market cap of $ 1.27 billion, a PE ratio of 1.21 and a beta of 0.23. Shenandoah Telecommunications has a 52 week low of $ 24.44 and a 52 week high of $ 61.53.

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Shenandoah Telecommunications (NASDAQ: SHEN) last released its quarterly earnings data on Thursday, October 28. The utility provider reported EPS of $ 0.13 for the quarter, beating analysts’ consensus estimate of ($ 0.11) by $ 0.24. The company posted revenue of $ 62.24 million for the quarter, compared to $ 61.91 million according to analysts’ estimates. Shenandoah Telecommunications reported a return on equity of 2.07% and a net margin of 434.98%. During the same period of the previous year, the company posted earnings per share of $ 0.03. On average, analysts predict that Shenandoah Telecommunications will post earnings per share of 0.28 for the current year.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in SHEN. Goldman Sachs Group Inc. increased its holdings in Shenandoah Telecommunications by 167.5% during the third quarter. Goldman Sachs Group Inc. now owns 504,761 shares of the utility company valued at $ 15,940,000 after purchasing an additional 316,069 shares in the last quarter. SG Americas Securities LLC increased its holdings in Shenandoah Telecommunications by 6,464.5% during the third quarter. SG Americas Securities LLC now owns 142,582 shares of the utility company valued at $ 4,503,000 after purchasing an additional 140,410 shares in the last quarter. FMR LLC increased its stake in Shenandoah Telecommunications by 13.5% during the first quarter. FMR LLC now owns 954,614 shares of the utility provider valued at $ 42,346,000 after purchasing an additional 113,516 shares during the last quarter. Assenagon Asset Management SA acquired a new stake in Shenandoah Telecommunications during the third quarter for a value of approximately $ 2,845,000. Finally, ClariVest Asset Management LLC acquired a new stake in Shenandoah Telecommunications during the third quarter for a value of approximately $ 2,753,000. 55.01% of the shares are currently held by institutional investors.

About Shenandoah Telecommunications

Shenandoah Telecommunications Co operates as a holding company, which provides regulated and unregulated telecommunications services to end user customers and other telecommunications providers. It offers voice, video and data communication services. It operates in the following segments: wireless, broadband and tower.

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