Shenandoah Telecommunications Co (NASDAQ:SHEN) announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06, Bloomberg Earnings reports. The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $153.83 million. Shenandoah Telecommunications had a positive return on equity of 5.43% and a negative net margin of 0.89%. The company’s quarterly revenue was up 17.7% on a year-over-year basis.
Shenandoah Telecommunications (NASDAQ SHEN) remained flat at $35.40 during mid-day trading on Friday. 179,308 shares of the company’s stock traded hands. The company’s 50 day moving average price is $31.21 and its 200-day moving average price is $29.92. Shenandoah Telecommunications has a 1-year low of $22.05 and a 1-year high of $36.80. The company’s market cap is $1.74 billion.
SHEN has been the topic of a number of recent analyst reports. BidaskClub lowered Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. ValuEngine upgraded Shenandoah Telecommunications from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, TheStreet downgraded Shenandoah Telecommunications from a “b” rating to a “c+” rating in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Shenandoah Telecommunications has an average rating of “Hold” and an average target price of $34.67.
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In other Shenandoah Telecommunications news, VP Raymond B. Ostroski sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $31.75, for a total value of $95,250.00. Following the completion of the sale, the vice president now owns 21,621 shares of the company’s stock, valued at $686,466.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.24% of the stock is owned by company insiders.
About Shenandoah Telecommunications
Shenandoah Telecommunications Company is a telecommunications holding company. The Company’s segments are Wireless, Cable, Wireline and Other. The Company, through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio.
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