Shenandoah Telecommunications (NASDAQ:SHEN) Raised to “Strong-Buy” at Raymond James


Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued on Tuesday, Briefing.com reports. The firm presently has a $25.00 price objective on the utilities provider’s stock. Raymond James’ price objective would indicate a potential upside of 33.98% from the stock’s current price.

SHEN has been the topic of several other research reports. StockNews.com started coverage on shares of Shenandoah Telecommunications in a research note on Thursday, March 31st. They set a “sell” rating on the stock. BWS Financial cut shares of Shenandoah Telecommunications from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $26.25 to $16.00 in a research report on Wednesday, March 2nd. Zacks Investment Research raised Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Tuesday, April 26th. Finally, B. Riley cut Shenandoah Telecommunications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $21.00 in a research note on Monday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.67.

Shares of Shenandoah Telecommunications stock opened at $18.66 on Tuesday. The firm has a fifty day moving average of $22.25 and a two-hundred day moving average of $24.48. The stock has a market capitalization of $933.93 million, a price-to-earnings ratio of 0.99 and a beta of 0.39. Shenandoah Telecommunications has a 52 week low of $17.06 and a 52 week high of $61.53.

Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The utilities provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Shenandoah Telecommunications had a net margin of 378.97% and a return on equity of 1.64%. During the same period in the prior year, the company posted $0.06 earnings per share. On average, research analysts forecast that Shenandoah Telecommunications will post 0.07 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SHEN. Norges Bank bought a new stake in Shenandoah Telecommunications in the 4th quarter valued at $11,524,000. Goldman Sachs Group Inc. raised its stake in shares of Shenandoah Telecommunications by 167.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 504,761 shares of the utilities provider’s stock valued at $15,940,000 after purchasing an additional 316,069 shares during the period. BlackRock Inc. lifted its holdings in shares of Shenandoah Telecommunications by 3.5% in the fourth quarter. BlackRock Inc. now owns 7,848,317 shares of the utilities provider’s stock valued at $200,132,000 after purchasing an additional 263,142 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Shenandoah Telecommunications by 91.6% in the fourth quarter. JPMorgan Chase & Co. now owns 500,729 shares of the utilities provider’s stock valued at $12,769,000 after purchasing an additional 239,376 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Shenandoah Telecommunications by 543.7% during the fourth quarter. First Trust Advisors LP now owns 140,094 shares of the utilities provider’s stock worth $3,572,000 after buying an additional 118,331 shares in the last quarter. Institutional investors and hedge funds own 55.57% of the company’s stock.

About Shenandoah Telecommunications (Get Rating)

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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

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