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In a challenging year for Shenandoah Telecommunications Company (SHEN), the stock has tumbled to a 52-week low, touching down at $10.66. According to InvestingPro analysis, the stock’s RSI indicates oversold territory, though the company maintains its impressive 30-year streak of consecutive dividend payments. This latest price point underscores a significant downturn for the company, which has seen its stock value plummet by 47.78% over the past year. Investors have been closely monitoring SHEN as it navigates through a period marked by intense market volatility and sector-specific headwinds, despite posting revenue growth of 21.23% in the last twelve months. The 52-week low serves as a stark indicator of the hurdles Shenandoah Teleco (NASDAQ:SHEN) has faced, and continues to face, in a rapidly evolving telecommunications landscape. InvestingPro subscribers can access 8 additional key insights about SHEN’s financial health and future prospects through the comprehensive Pro Research Report.
In other recent news, Shenandoah Telecommunications Company, also known as Shentel, reported robust growth in its third quarter earnings call. The company’s revenue saw a significant 30% increase to $87.6 million, with adjusted EBITDA also rising by 31% to $26.6 million. This growth was largely driven by the expansion of its Glo Fiber service and the successful integration of former Horizon markets.
Adding a record 6,000 net subscribers, Shentel’s Glo Fiber service now serves over 59,000 customers. The company’s broadband network currently covers approximately 554,000 homes and businesses, with 59% served via fiber. In terms of future developments, Shentel plans to continue expanding its Glo Fiber service and aims to increase its customer base in unserved areas through government grants.
Despite overall broadband data penetration decreasing to 47.5%, the company reported a 7 basis point year-over-year improvement in churn. Furthermore, the Broadband data Average Revenue Per User (ARPU) saw a 2.9% year-over-year increase. Shentel’s strong liquidity position at $473 million, coupled with a net leverage ratio of 2.8 times, underpins the company’s strategic outlook and operational progress.
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