Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 1-Year Low – Here’s Why

Shenandoah Telecommunications (NASDAQ:SHEN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.18 and last traded at $11.22, with a volume of 243011 shares traded. The stock had previously closed at $11.93.

Analysts Set New Price Targets

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

Shenandoah Telecommunications Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $628.99 million, a price-to-earnings ratio of 2.96 and a beta of 0.63. The business’s 50-day simple moving average is $12.71 and its two-hundred day simple moving average is $14.52.

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

Hedge Funds Weigh In On Shenandoah Telecommunications

Several large investors have recently modified their holdings of SHEN. Dimensional Fund Advisors LP raised its stake in shares of Shenandoah Telecommunications by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,576,290 shares of the utilities provider’s stock valued at $42,070,000 after acquiring an additional 29,413 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Shenandoah Telecommunications by 5.8% during the second quarter. Public Sector Pension Investment Board now owns 110,379 shares of the utilities provider’s stock valued at $1,802,000 after acquiring an additional 6,072 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Shenandoah Telecommunications during the second quarter valued at $480,000. AQR Capital Management LLC bought a new position in shares of Shenandoah Telecommunications during the second quarter valued at $572,000. Finally, The Manufacturers Life Insurance Company raised its stake in Shenandoah Telecommunications by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 26,785 shares of the utilities provider’s stock worth $437,000 after buying an additional 2,155 shares during the last quarter. Institutional investors own 61.96% of the company’s stock.

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. 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.