Stock analysts expect Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) to report sales of $62.72 million for the current quarter, according to Zacks. Three analysts have released earnings estimates for Shenandoah Telecommunications, with the highest sales estimate of $63.20 million and the lowest estimate of $61.80 million. Shenandoah Telecommunications reported sales of $59.69 million in the same quarter last year, indicating a positive year-over-year growth rate of 5.1%. The company is expected to announce its next earnings report after the market closes on Monday, January 1.
According to Zacks, analysts expect Shenandoah Telecommunications to report annual revenue of $254.22 million for the current fiscal year, with estimates ranging from $251.30 to $259.60 million. For the next fiscal year, analysts expect the company to record sales of $281.35 million, with estimates ranging from $279.80 to $282.90 million. Zacks sales calculations are an average based on a survey of analysts who provide coverage for Shenandoah Telecommunications.
Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) last released its quarterly earnings data on Monday, February 28. The utility provider reported EPS of $0.06 for the quarter, beating the Zacks consensus estimate of $0.04 by $0.02. The company posted revenue of $62.60 million for the quarter, versus $62.68 million expected by analysts. Shenandoah Telecommunications recorded a return on equity of 2.20% and a net margin of 407.52%. In the same quarter a year earlier, the company posted earnings per share of $0.03.
A number of research companies have recently commented on SHEN. Raymond James lowered his price target on Shenandoah Telecommunications stock from $29.00 to $25.00 and set an “outperform” rating on the stock in a Wednesday, March 2 research note. BWS Financial downgraded shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and reduced its price target for the company from $26.25 to $16.00 in a Wednesday 2 research note. March. Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report released Wednesday. StockNews.com picked up coverage from Shenandoah Telecommunications in a Thursday, March 31 research report. They issued a “sell” rating for the company. Finally, B. Riley reduced his price target on Shenandoah Telecommunications from $32.00 to $29.00 in a Wednesday, March 2 report. Three equity research analysts gave the stock a sell rating and two gave the company a buy rating. According to data from MarketBeat.com, Shenandoah Telecommunications has an average rating of “Hold” and a consensus price target of $23.33.
Hedge funds and other institutional investors have recently changed their stock holdings. BlackRock Inc. increased its stake in Shenandoah Telecommunications by 3.5% in the fourth quarter. BlackRock Inc. now owns 7,848,317 shares of the utility provider valued at $200,132,000 after acquiring an additional 263,142 shares in the last quarter. State Street Corp raised its position in Shenandoah Telecommunications shares by 5.2% during the fourth quarter. State Street Corp now owns 1,744,738 shares of the utility provider valued at $44,491,000 after buying an additional 86,841 shares last quarter. FMR LLC increased its position in Shenandoah Telecommunications by 13.5% in the 1st quarter. FMR LLC now owns 954,614 shares of the utility provider worth $42,346,000 after purchasing an additional 113,516 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Shenandoah Telecommunications by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 586,141 shares of the utility provider valued at $18,510,000 after buying an additional 9,035 shares last quarter. Finally, Goldman Sachs Group Inc. increased its position in Shenandoah Telecommunications by 167.5% in the third quarter. Goldman Sachs Group Inc. now owns 504,761 shares of the utility provider valued at $15,940,000 after buying an additional 316,069 shares in the last quarter. 55.08% of the shares are currently held by institutional investors and hedge funds.
SHEN stock opened at $23.03 on Friday. The stock’s fifty-day moving average is $22.33 and its two-hundred-day moving average is $24.95. Shenandoah Telecommunications has a 1-year low of $18.77 and a 1-year high of $61.53. The stock has a market capitalization of $1.15 billion, a price-earnings ratio of 1.15 and a beta of 0.30.
Shenandoah Telecom Company Profile (Get a rating)
Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communications services and cell tower colocation space in the Mid-Atlantic United States. Its Broadband segment offers broadband, video and voice services to residential and business customers in Virginia, West Virginia, Maryland, Pennsylvania and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, optical fiber under the Glo Fiber brand and fixed services. wireless network services under the Beam brand.
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