Shenandoah Telecommunications Co (NASDAQ:SHEN - Get Free Report) traded up 9.7% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $13.00 and last traded at $12.9870. 387,329 shares changed hands during trading, an increase of 14% from the average session volume of 339,989 shares. The stock had previously closed at $11.84.

The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.11. Shenandoah Telecommunications had a negative return on equity of 4.64% and a negative net margin of 11.35%.The company had revenue of $93.46 million for the quarter, compared to analysts' expectations of $92.83 million.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SHEN shares. BWS Financial reaffirmed a "buy" rating and set a $26.00 target price on shares of Shenandoah Telecommunications in a research note on Monday, May 4th. Craig Hallum initiated coverage on shares of Shenandoah Telecommunications in a research report on Thursday, April 9th. They set a "buy" rating and a $29.00 price target on the stock. Weiss Ratings cut shares of Shenandoah Telecommunications from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Monday, May 4th. Finally, Wall Street Zen cut Shenandoah Telecommunications from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Shenandoah Telecommunications currently has a consensus rating of "Hold" and a consensus price target of $27.50.

View Our Latest Report on Shenandoah Telecommunications

Hedge Funds Weigh In On Shenandoah Telecommunications

Large investors have recently modified their holdings of the business. ECP ControlCo LLC increased its position in shares of Shenandoah Telecommunications by 2.4% during the 4th quarter. ECP ControlCo LLC now owns 3,457,105 shares of the utilities provider's stock worth $39,964,000 after purchasing an additional 79,872 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Shenandoah Telecommunications by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,639,113 shares of the utilities provider's stock valued at $35,416,000 after purchasing an additional 39,653 shares during the last quarter. State Street Corp increased its holdings in Shenandoah Telecommunications by 1.7% in the 4th quarter. State Street Corp now owns 1,927,155 shares of the utilities provider's stock valued at $22,278,000 after purchasing an additional 31,375 shares during the last quarter. Millennium Management LLC raised its position in Shenandoah Telecommunications by 1,116.6% in the fourth quarter. Millennium Management LLC now owns 1,087,246 shares of the utilities provider's stock valued at $12,569,000 after purchasing an additional 997,882 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Shenandoah Telecommunications by 8.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 796,076 shares of the utilities provider's stock valued at $9,203,000 after purchasing an additional 59,443 shares during the period. Institutional investors and hedge funds own 61.96% of the company's stock.

Shenandoah Telecommunications Stock Up 10.4%

The business has a 50 day simple moving average of $14.31 and a 200 day simple moving average of $14.18. The company has a market capitalization of $723.11 million, a price-to-earnings ratio of -16.34 and a beta of 0.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.12 and a quick ratio of 1.12.

About Shenandoah Telecommunications

(Get Free Report)

Shenandoah Telecommunications Company operates as a diversified communications provider offering both wireless and wireline services across rural markets in the Mid-Atlantic region. Headquartered in Edinburg, Virginia, the company designs, builds and maintains network infrastructure to deliver mobile connectivity, high-speed broadband access and related telecommunications solutions to residential, business and wholesale customers.

In its wireless segment, the company owns and operates a portfolio of cellular towers and associated spectrum under a long-term partnership with a national carrier.

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