Shenandoah Telecommunications (SHEN) Expected to Post Quarterly Sales of $154.19 Million

Equities research analysts expect Shenandoah Telecommunications (NASDAQ:SHEN) to announce sales of $154.19 million for the current quarter, Zacks reports. Two analysts have provided estimates for Shenandoah Telecommunications’ earnings, with the lowest sales estimate coming in at $153.67 million and the highest estimate coming in at $154.71 million. Shenandoah Telecommunications reported sales of $155.57 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings results on Monday, March 19th.

According to Zacks, analysts expect that Shenandoah Telecommunications will report full year sales of $154.19 million for the current fiscal year, with estimates ranging from $612.59 million to $613.63 million. For the next financial year, analysts anticipate that the business will report sales of $635.42 million per share, with estimates ranging from $632.92 million to $637.91 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Shenandoah Telecommunications.

A number of equities research analysts have recently issued reports on the stock. BWS Financial set a $50.00 price target on shares of Shenandoah Telecommunications and gave the company a “buy” rating in a report on Wednesday, January 24th. BidaskClub upgraded shares of Shenandoah Telecommunications from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 25th. Zacks Investment Research lowered shares of Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research note on Saturday, January 27th. Finally, TheStreet lowered shares of Shenandoah Telecommunications from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Shenandoah Telecommunications presently has an average rating of “Hold” and an average target price of $50.00.

Shenandoah Telecommunications (NASDAQ SHEN) remained flat at $$31.00 during mid-day trading on Friday. 78,500 shares of the company traded hands, compared to its average volume of 116,959. Shenandoah Telecommunications has a 12-month low of $25.50 and a 12-month high of $41.80. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.34 and a quick ratio of 1.28. The firm has a market cap of $1,527.20, a price-to-earnings ratio of 258.33 and a beta of 0.71.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Shenandoah Telecommunications by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,720,805 shares of the utilities provider’s stock valued at $114,229,000 after buying an additional 47,212 shares during the period. Prudential Financial Inc. bought a new stake in Shenandoah Telecommunications in the third quarter worth approximately $1,673,000. Wells Fargo & Company MN grew its position in Shenandoah Telecommunications by 28.1% in the third quarter. Wells Fargo & Company MN now owns 85,915 shares of the utilities provider’s stock worth $3,196,000 after acquiring an additional 18,862 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Shenandoah Telecommunications by 1,399.2% in the second quarter. The Manufacturers Life Insurance Company now owns 537,792 shares of the utilities provider’s stock worth $16,510,000 after acquiring an additional 501,920 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Shenandoah Telecommunications by 10.3% in the second quarter. Parametric Portfolio Associates LLC now owns 56,674 shares of the utilities provider’s stock worth $1,740,000 after acquiring an additional 5,286 shares in the last quarter. Hedge funds and other institutional investors own 48.42% of the company’s stock.

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Shenandoah Telecommunications Company Profile

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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