Shenandoah Telecommunications (NASDAQ:SHEN) Hits New 12-Month Low Following Weak Earnings

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

The utilities provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). 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 restated a “buy” rating and set a $26.00 price objective on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Shenandoah Telecommunications

A number of institutional investors have recently modified their holdings of SHEN. Versant Capital Management Inc increased its holdings in Shenandoah Telecommunications by 10,890.9% in the fourth quarter. Versant Capital Management Inc now owns 2,418 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,396 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Shenandoah Telecommunications in the 3rd quarter valued at $37,000. Smartleaf Asset Management LLC lifted its position in shares of Shenandoah Telecommunications by 456.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,304 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 3,531 shares during the period. Quantbot Technologies LP grew its holdings in Shenandoah Telecommunications by 570.2% in the third quarter. Quantbot Technologies LP now owns 7,339 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 6,244 shares during the period. Finally, Quest Partners LLC grew its holdings in Shenandoah Telecommunications by 741.0% in the third quarter. Quest Partners LLC now owns 7,636 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 6,728 shares during the period. 61.96% of the stock is owned by institutional investors.

Shenandoah Telecommunications Trading Down 12.9 %

The firm’s 50 day simple moving average is $12.03 and its two-hundred day simple moving average is $13.48. The stock has a market capitalization of $562.16 million, a P/E ratio of 2.67 and a beta of 0.61. 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.