Fintel reports that on August 4, 2023, BWS Financial upgraded their outlook for Shenandoah Telecommunications (NASDAQ:SHEN) from Sell to Neutral .
Analyst Price Forecast Suggests 4.21% Downside
As of August 2, 2023, the average one-year price target for Shenandoah Telecommunications is 18.87. The forecasts range from a low of 15.15 to a high of $23.10. The average price target represents a decrease of 4.21% from its latest reported closing price of 19.70.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shenandoah Telecommunications is 288MM, an increase of 2.92%. The projected annual non-GAAP EPS is -0.09.
What is the Fund Sentiment?
There are 331 funds or institutions reporting positions in Shenandoah Telecommunications. This is a decrease of 16 owner(s) or 4.61% in the last quarter. Average portfolio weight of all funds dedicated to SHEN is 0.10%, a decrease of 52.04%. Total shares owned by institutions decreased in the last three months by 0.52% to 35,444K shares. 
The put/call ratio of SHEN is 0.08, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,641K shares representing 7.25% ownership of the company. In it's prior filing, the firm reported owning 3,713K shares, representing a decrease of 1.96%. The firm increased its portfolio allocation in SHEN by 14.14% over the last quarter.
ECP ControlCo holds 2,452K shares representing 4.88% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,553K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,395K shares, representing an increase of 10.13%. The firm increased its portfolio allocation in SHEN by 23.06% over the last quarter.
Cerity Partners holds 1,397K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 1,397K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in SHEN by 56.63% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,245K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 1,226K shares, representing an increase of 1.50%. The firm increased its portfolio allocation in SHEN by 16.70% over the last quarter.
Shenandoah Telecommunications Background Information
(This description is provided by the company.)
Shenandoah Telecommunications Company (Shentel) provides a broad range of diversified communications services through its high speed, state-of-the-art wireless, cable and fiber optic and fixed wireless networks to customers in the Mid-Atlantic United States. The Company's services include: broadband internet, video, and digital voice; fiber optic Ethernet, wavelength and leasing; telephone voice and digital subscriber line; tower colocation leasing; and wireless voice and data. Shentel is the exclusive personal communications service ('PCS') Affiliate of Sprint in a multi-state area covering large portions of central and western Virginia, south-central Pennsylvania, West Virginia, and portions of Maryland, and Kentucky.
Additional reading:
- Shenandoah Telecommunications Company Reports Second Quarter 2023 Results
- AMENDMENT NO. 1 TO CREDIT AGREEMENT
- Shenandoah Telecommunications Company Reports First Quarter 2023 Results
- Shenandoah Telecommunications Company Reports Fourth Quarter and Full Year 2022 Results
- Form of Restricted Stock Unit Award for Executives under the 2014 Equity Incentive Plan.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
