Shenandoah Telecommunications (NASDAQ:SHEN) Shares Gap Down to $13.25

May 5, 2024

25 2 minutes read

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Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $13.25, but opened at $12.90. Shenandoah Telecommunications shares last traded at $11.94, with a volume of 44,788 shares traded.

Wall Street Analyst Weigh In

Separately, BWS Financial upgraded Shenandoah Telecommunications from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a report on Monday, March 4th.

Read Our Latest Analysis on SHEN

Shenandoah Telecommunications Price Performance

The stock’s 50 day moving average is $16.32 and its two-hundred day moving average is $19.73. The stock has a market capitalization of $679.56 million, a PE ratio of 84.19 and a beta of 0.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.79 and a quick ratio of 1.79.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Shenandoah Telecommunications had a net margin of 2.80% and a return on equity of 1.24%. The company had revenue of $72.51 million for the quarter, compared to the consensus estimate of $71.85 million. During the same period in the prior year, the firm posted ($0.04) EPS. As a group, sell-side analysts forecast that Shenandoah Telecommunications will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Shenandoah Telecommunications

A number of institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Shenandoah Telecommunications in the 4th quarter valued at about $6,797,000. RWA Wealth Partners LLC purchased a new position in Shenandoah Telecommunications in the fourth quarter valued at approximately $2,583,000. American Century Companies Inc. raised its holdings in Shenandoah Telecommunications by 25.6% during the third quarter. American Century Companies Inc. now owns 445,005 shares of the utilities provider’s stock worth $9,172,000 after purchasing an additional 90,695 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Shenandoah Telecommunications by 8.3% during the 1st quarter. DAVENPORT & Co LLC now owns 932,832 shares of the utilities provider’s stock worth $16,203,000 after buying an additional 71,451 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Shenandoah Telecommunications by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock worth $14,616,000 after buying an additional 51,827 shares during the last quarter. 61.96% of the stock is owned by hedge funds and other institutional investors.

Shenandoah Telecommunications Company Profile

(Get Free Report)

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.