Shenandoah Telecommunications (NASDAQ:SHEN) Sets New 52-Week Low on Disappointing Earnings

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

The utilities provider reported ($0.11) earnings per share (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%.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and set a $26.00 price target on shares of Shenandoah Telecommunications in a research report on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SHEN. Vanguard Group Inc. grew its position in Shenandoah Telecommunications by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,529,847 shares of the utilities provider’s stock worth $69,731,000 after purchasing an additional 68,133 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Shenandoah Telecommunications by 16.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,012,685 shares of the utilities provider’s stock valued at $12,770,000 after purchasing an additional 140,314 shares during the last quarter. Northern Trust Corp lifted its stake in Shenandoah Telecommunications by 1.3% during the fourth quarter. Northern Trust Corp now owns 523,981 shares of the utilities provider’s stock valued at $6,607,000 after purchasing an additional 6,904 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Shenandoah Telecommunications by 8.3% in the 4th quarter. Bank of New York Mellon Corp now owns 454,540 shares of the utilities provider’s stock valued at $5,732,000 after acquiring an additional 34,740 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Shenandoah Telecommunications by 12.5% in the 4th quarter. American Century Companies Inc. now owns 433,218 shares of the utilities provider’s stock valued at $5,463,000 after acquiring an additional 48,233 shares in the last quarter. 61.96% of the stock is currently owned by institutional investors.

Shenandoah Telecommunications Trading Down 10.2 %

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.36. The firm has a market cap of $579.85 million, a PE ratio of 2.73 and a beta of 0.61. The company’s 50-day moving average is $11.97 and its 200 day moving average is $13.46.

About Shenandoah Telecommunications

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.