Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 1-Year Low on Disappointing Earnings

Shenandoah Telecommunications (NASDAQ:SHEN)’s share price hit a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.77 and last traded at $10.36, with a volume of 88642 shares trading hands. The stock had previously closed at $11.82.

The utilities provider reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The company had revenue of $85.41 million during the quarter, compared to analyst estimates of $89.65 million. Shenandoah Telecommunications had a negative return on equity of 1.45% and a net margin of 62.67%.

Analysts Set New Price Targets

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

Institutional Trading of Shenandoah Telecommunications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Shenandoah Telecommunications by 211.9% during the third quarter. FMR LLC now owns 105,789 shares of the utilities provider’s stock valued at $1,493,000 after purchasing an additional 71,868 shares during the last quarter. Barclays PLC lifted its stake in Shenandoah Telecommunications by 339.4% during the third quarter. Barclays PLC now owns 80,151 shares of the utilities provider’s stock valued at $1,131,000 after purchasing an additional 61,910 shares during the last quarter. Jane Street Group LLC lifted its stake in Shenandoah Telecommunications by 101.2% during the third quarter. Jane Street Group LLC now owns 95,703 shares of the utilities provider’s stock valued at $1,350,000 after purchasing an additional 48,127 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Shenandoah Telecommunications during the third quarter valued at approximately $1,113,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Shenandoah Telecommunications during the third quarter valued at approximately $678,000. 61.96% of the stock is owned by institutional investors and hedge funds.

Shenandoah Telecommunications Trading Up 1.5 %

The firm has a market capitalization of $588.59 million, a price-to-earnings ratio of 2.77 and a beta of 0.61. The firm’s 50 day moving average is $11.97 and its 200 day moving average is $13.46. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.36.

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.