FY2022 EPS Estimates for Shenandoah Telecommunications (NASDAQ:SHEN) Cut by B. Riley

Shenandoah Telecommunications (NASDAQ:SHEN) – Stock analysts at B. Riley decreased their FY2022 earnings per share estimates for shares of Shenandoah Telecommunications in a research note issued to investors on Tuesday, January 11th. B. Riley analyst D. Day now expects that the utilities provider will post earnings per share of $0.27 for the year, down from their prior forecast of $0.28. B. Riley also issued estimates for Shenandoah Telecommunications’ FY2024 earnings at $1.02 EPS.

Shenandoah Telecommunications (NASDAQ:SHEN) last issued its quarterly earnings data on Thursday, October 28th. The utilities provider reported $0.13 earnings per share (EPS) 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 firm had revenue of $62.24 million during the quarter, compared to the consensus estimate of $61.91 million. During the same quarter in the previous year, the company posted $0.03 EPS.

Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Shenandoah Telecommunications from a “hold” rating to a “sell” rating in a research report on Friday. 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 report on Tuesday, December 14th.

Shares of SHEN opened at $24.39 on Thursday. The stock has a fifty day moving average price of $26.31 and a two-hundred day moving average price of $32.92. Shenandoah Telecommunications has a 52-week low of $24.36 and a 52-week high of $61.53. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 1.17 and a beta of 0.23.

Several hedge funds have recently added to or reduced their stakes in SHEN. Goldman Sachs Group Inc. raised its position in shares of Shenandoah Telecommunications by 167.5% during the third quarter. Goldman Sachs Group Inc. now owns 504,761 shares of the utilities provider’s stock worth $15,940,000 after acquiring an additional 316,069 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Shenandoah Telecommunications by 6,464.5% during the third quarter. SG Americas Securities LLC now owns 142,582 shares of the utilities provider’s stock worth $4,503,000 after acquiring an additional 140,410 shares during the last quarter. FMR LLC grew its stake in shares of Shenandoah Telecommunications by 13.5% during the first quarter. FMR LLC now owns 954,614 shares of the utilities provider’s stock worth $42,346,000 after purchasing an additional 113,516 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Shenandoah Telecommunications during the third quarter worth $2,845,000. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Shenandoah Telecommunications during the third quarter worth $2,753,000. Institutional investors own 54.54% of the company’s stock.

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

Shenandoah Telecommunications Company Profile

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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Earnings History and Estimates for Shenandoah Telecommunications (NASDAQ:SHEN)

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