BWS Financial Weighs in on Shenandoah Telecommunications’ Q2 2024 Earnings (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN) – Analysts at BWS Financial dropped their Q2 2024 EPS estimates for Shenandoah Telecommunications in a research report issued on Monday, May 6th. BWS Financial analyst H. Khorsand now expects that the utilities provider will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. BWS Financial currently has a “Buy” rating and a $26.00 target price on the stock. The consensus estimate for Shenandoah Telecommunications’ current full-year earnings is ($0.05) per share. BWS Financial also issued estimates for Shenandoah Telecommunications’ Q3 2024 earnings at $0.01 EPS and Q4 2024 earnings at $0.01 EPS.

Shenandoah Telecommunications Stock Up 9.9 %

SHEN stock opened at $16.37 on Thursday. The company has a market cap of $825.82 million, a P/E ratio of 3.78 and a beta of 0.61. Shenandoah Telecommunications has a 52 week low of $11.87 and a 52 week high of $25.51. The company’s 50-day moving average price is $16.12 and its 200 day moving average price is $19.58. The company has a current ratio of 4.68, a quick ratio of 1.79 and a debt-to-equity ratio of 0.33.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate of $71.85 million. Shenandoah Telecommunications had a net margin of 77.44% and a return on equity of 0.27%. During the same quarter in the previous year, the firm earned ($0.04) earnings per share.

Insider Buying and Selling

In related news, CEO Christopher E. French acquired 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were purchased at an average price of $14.69 per share, with a total value of $161,590.00. Following the completion of the acquisition, the chief executive officer now owns 319,750 shares in the company, valued at $4,697,127.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Shenandoah Telecommunications news, COO Edward H. Mckay purchased 10,000 shares of Shenandoah Telecommunications stock in a transaction on Tuesday, May 7th. The shares were bought at an average price of $14.95 per share, with a total value of $149,500.00. Following the completion of the acquisition, the chief operating officer now directly owns 66,951 shares of the company’s stock, valued at $1,000,917.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher E. French purchased 11,000 shares of Shenandoah Telecommunications stock in a transaction on Tuesday, May 7th. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $161,590.00. Following the acquisition, the chief executive officer now directly owns 319,750 shares of the company’s stock, valued at $4,697,127.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 23,963 shares of company stock valued at $354,545. Corporate insiders own 4.37% of the company’s stock.

Institutional Trading of Shenandoah Telecommunications

Several institutional investors and hedge funds have recently modified their holdings of SHEN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Shenandoah Telecommunications by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,045 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 1,674 shares in the last quarter. Versor Investments LP acquired a new position in shares of Shenandoah Telecommunications in the third quarter valued at approximately $340,000. Illinois Municipal Retirement Fund acquired a new position in shares of Shenandoah Telecommunications in the third quarter valued at approximately $650,000. Swiss National Bank raised its position in shares of Shenandoah Telecommunications by 1.0% in the third quarter. Swiss National Bank now owns 104,872 shares of the utilities provider’s stock valued at $2,161,000 after buying an additional 1,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Shenandoah Telecommunications by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 709,168 shares of the utilities provider’s stock valued at $14,616,000 after buying an additional 51,827 shares during the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.

About Shenandoah Telecommunications

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.