Raymond James Downgrades SHENANDOAH TELECOM INC COM to Market Perform

Brokerage firm Raymond James Downgrades its rating on SHENANDOAH TELECOM INC COM(NASDAQ:SHEN). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Jun 9, 2016.

In a different note, Macquarie said it Initiates Coverage on SHENANDOAH TELECOM INC COM, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Neutral’ by the firm.

SHENANDOAH TELECOM INC COM (SHEN) shares turned negative on Wednesdays trading session with the shares closing down -0.07 points or -0.20% at a volume of 1,47,268. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.31. The peak price level was also seen at $35.31 while the days lowest was $34.59. Finally the shares closed at $34.66. The 52-week high of the shares is $36.21 while the 52-week low is $15.305. According to the latest information available, the market cap of the company is $1,690 M.

SHENANDOAH TELECOM INC COM(SHEN) last announced its earnings results on Apr 29, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $92.57M. Analysts had an estimated revenue of $89.74M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.24.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, James E Ii Zerkel (director) sold 20,000 shares at $24.81 per share price.Also, On May 11, 2016, Raymond B Ostroski (VP Legal & General Counsel) sold 2,000 shares at $30.32 per share price.On Mar 30, 2016, Earle A Mackenzie (Executive Vice President) sold 49,890 shares at $25.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Shenandoah Telecommunications Company is a diversified telecommunications holding company. The Company provides both regulated and unregulated telecommunications services to end user customers and other telecommunications providers in Virginia West Virginia central Pennsylvania and western Maryland. The Company operates in four segments: Wireless Cable Wireline and Other. The Company’s Wireless segment provides digital wireless service to a portion of a four-state area covering the region from Harrisburg York and Altoona Pennsylvania to Harrisonburg Virginia. The Cable segment provides video Internet and voice services in franchise areas in portions of Virginia West Virginia and western Maryland. The Wireline segment provides regulated and unregulated voice services digital subscriber lines (DSL) Internet access and long distance access services. The Other segment includes operations of Shenandoah Telecommunications Company.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *