B. Riley Weighs in on Shenandoah Telecommunications’ Q3 2022 Earnings (NASDAQ:SHEN)

Shenandoah Telecommunications (NASDAQ:SHEN – Get Rating) – Equities researchers at B. Riley increased their Q3 2022 earnings estimates for shares of Shenandoah Telecommunications in a research report issued on Thursday, August 4th. B. Riley analyst D. Day now forecasts that the utilities provider will post earnings of $0.06 per share for the quarter, up from their previous estimate of $0.02. B. Riley currently has a “Neutral” rating and a $21.00 price target on the stock. The consensus estimate for Shenandoah Telecommunications’ current full-year earnings is $0.03 per share. B. Riley also issued estimates for Shenandoah Telecommunications’ Q4 2022 earnings at $0.11 EPS, FY2022 earnings at $0.09 EPS, FY2024 earnings at $0.57 EPS, FY2025 earnings at $1.08 EPS and FY2026 earnings at $1.47 EPS.

Separately, Raymond James lowered shares of Shenandoah Telecommunications from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Shenandoah Telecommunications has an average rating of “Hold” and a consensus price target of $20.67.

Shenandoah Telecommunications Trading Up 3.3%

SHEN stock opened at $22.95 on Monday. Shenandoah Telecommunications has a 1 year low of $17.06 and a 1 year high of $32.71. The company has a fifty day simple moving average of $22.36 and a 200 day simple moving average of $22.21. The firm has a market cap of $1.15 billion, a PE ratio of 1.29 and a beta of 0.37.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHEN. Point72 Hong Kong Ltd bought a new stake in Shenandoah Telecommunications in the fourth quarter valued at about $35,000. Copeland Capital Management LLC bought a new stake in Shenandoah Telecommunications in the first quarter valued at about $37,000. Lazard Asset Management LLC bought a new stake in Shenandoah Telecommunications in the fourth quarter valued at about $45,000. CWM LLC bought a new stake in Shenandoah Telecommunications in the fourth quarter valued at about $76,000. Finally, KBC Group NV increased its stake in Shenandoah Telecommunications by 26.3% in the first quarter. KBC Group NV now owns 4,733 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 985 shares during the period. Institutional investors own 55.57% of the company’s stock.

Insiders Place Their Bets

In related news, President Christopher E. French acquired 11,670 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $21.43 per share, for a total transaction of $250,088.10. Following the acquisition, the president now owns 212,096 shares in the company, valued at approximately $4,545,217.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.04% of the company’s stock.

About Shenandoah Telecommunications

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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. Its Broadband segment offers broadband, video, and voice services to residential and commercial customers in Virginia, West Virginia, Maryland, Pennsylvania, and Kentucky, via hybrid fiber coaxial cable under the Shentel brand, fiber optic services under the Glo Fiber brand, and fixed wireless network services under the Beam brand name.

Further Reading

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

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