B. Riley Trims Shenandoah Telecommunications (NASDAQ:SHEN) Target Price to $40.00

Shenandoah Telecommunications (NASDAQ:SHEN) had its price target reduced by B. Riley from $43.00 to $40.00 in a report published on Wednesday, The Fly reports. B. Riley also issued estimates for Shenandoah Telecommunications’ Q4 2021 earnings at $0.04 EPS, FY2021 earnings at $0.27 EPS, FY2022 earnings at $0.27 EPS, FY2023 earnings at $0.60 EPS, FY2024 earnings at $1.02 EPS and FY2025 earnings at $1.43 EPS.

A number of other research analysts have also recently issued reports on SHEN. Raymond James upgraded Shenandoah Telecommunications from a market perform rating to an outperform rating and set a $29.00 price objective for the company in a research note on Tuesday, December 14th. Zacks Investment Research cut Shenandoah Telecommunications from a hold rating to a sell rating in a research note on Wednesday, October 20th.

NASDAQ SHEN opened at $24.39 on Wednesday. Shenandoah Telecommunications has a twelve month low of $24.36 and a twelve month high of $61.53. The firm has a market capitalization of $1.22 billion, a PE ratio of 1.17 and a beta of 0.23. The stock’s 50 day moving average is $26.31 and its 200 day moving average is $32.92.

Shenandoah Telecommunications (NASDAQ:SHEN) last released its quarterly earnings results on Thursday, October 28th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.24. Shenandoah Telecommunications had a return on equity of 2.07% and a net margin of 434.98%. The company had revenue of $62.24 million for the quarter, compared to analyst estimates of $61.91 million. During the same period in the previous year, the company posted $0.03 earnings per share. On average, research analysts predict that Shenandoah Telecommunications will post 0.28 EPS for the current year.

The firm also recently declared an annual dividend, which was paid on Wednesday, December 1st. Stockholders of record on Monday, November 8th were paid a $0.07 dividend. This represents a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, November 5th. Shenandoah Telecommunications’s dividend payout ratio is currently 0.34%.

Hedge funds have recently bought and sold shares of the company. UBS Group AG raised its stake in shares of Shenandoah Telecommunications by 100.6% in the third quarter. UBS Group AG now owns 1,440 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 722 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Shenandoah Telecommunications by 20.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,768 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 650 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Shenandoah Telecommunications during the second quarter valued at $211,000. Advisor Group Holdings Inc. increased its position in Shenandoah Telecommunications by 18.8% during the third quarter. Advisor Group Holdings Inc. now owns 4,402 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 696 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Shenandoah Telecommunications during the second quarter valued at $257,000. Hedge funds and other institutional investors own 54.54% of the company’s stock.

About Shenandoah Telecommunications

Shenandoah Telecommunications Co operates as a holding company, which engages in the provision of regulated and unregulated telecommunication services to end-user customers and other telecommunications providers. It offers voice, video and data communications services. It operates through the following segments: Wireless, Broadband and Tower.

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