Shenandoah Telecommunications Co (SHEN) - NASDAQ
  • Fri, Feb. 26, 5:44 PM
    • In an 8-K, NTELOS (NTLS -0.2%) says that the outside date of its merger agreement with Shenandoah Telecommunications (SHEN -2.8%) is being extended from Monday (Feb. 29) out to June 28.
    • That's to allow time for an FCC approval that hasn't yet arrived. The company says many of a number of merger conditions have been satisfied, including shareholder OK, approval by state regulatory agencies, and expiration of the Hart-Scott-Rodino waiting period.
    • NTELOS says it expects the merger to close as soon as practical following an FCC order approving the deal.
    | Fri, Feb. 26, 5:44 PM
  • Fri, Jan. 29, 12:59 PM
    • Shenandoah Telecommunications (NASDAQ:SHEN) is up 4.6% to its highest point in nearly two months as BWS Financial initiates shares at a Buy rating.
    • That adds a Buy recommendation to another two among the few firms covering the regional telecom. FBR reiterated its Outperform rating in the fall, and Raymond James shares a similar recommendation.
    • In addition, a 13G filing shows that among BlackRock's reports of telecom holdings this week, the firm has a 7.3% stake in Shentel.
    | Fri, Jan. 29, 12:59 PM
  • Mon, Jan. 4, 6:38 PM
    • Shenandoah Telecommunications (SHEN -4.1%) is acquiring small West Virginia provider Colane Cable for $2.4M.
    • Shentel promises it will upgrade Colane's customers -- who receive cable, telephone and high-speed Internet -- with faster broadband, more HD channels and improved phone service.
    • The two expect to close the deal this quarter.
    | Mon, Jan. 4, 6:38 PM
  • Aug. 11, 2015, 1:54 PM
    • Shenandoah Telecommunications (SHEN +21.2%) and NTELOS Holdings (NTLS +23%) are both up sharply in the wake of their news that Shentel is buying out NTELOS in a $640M deal.
    • In a conference call to discuss the deal, Shentel CEO Chris French pointed to a combined network that covers 4.3M points of presence and 1M subscribers, essentially doubling Shentel's POPs, revenue and OIBDA.
    • The deal's got mildly complicated terms as a three-way transaction ("win-win-win") with Shentel affiliate partner Sprint (NYSE:S), who will compensate Shentel to the tune of $252M in spectrum management fees (to be received in full within 5-6 years) and convert nTelos-brand customers to Sprint-branded, as well as take over NTELOS spectrum.
    • As for Sprint's coming to the table to make it happen: "I think it really came down to economics on both sides," said COO Earle MacKenzie. Sprint is "going to save the dollars that they spent or would be spending to buy the wholesale usage from nTelos and, you know, we were able to provide a network. We also were committed to spending additional capex there which will reduce their roaming expenses to others and provided a great return for our shareholders."
    • Shentel says it will complete a 4G LTE upgrade where NTELOS had a "good head start."
    • Meanwhile, FBR & Co. upgraded Shentel to Outperform, from Market Perform. The analysts raised the price target to $40, from $33; that's 10.9% upside from yesterday's close, though shares now trade at $43.70.
    • Previously: NTELOS up 20% on $640M buyout by Shentel (Aug. 10 2015)
    | Aug. 11, 2015, 1:54 PM | 2 Comments
  • Aug. 11, 2015, 12:45 PM
    | Aug. 11, 2015, 12:45 PM
  • Aug. 10, 2015, 5:14 PM
    • NTELOS Holdings (NASDAQ:NTLS) is up 20.1% after hours as it says it's to be acquired by Shenandoah Telecommunications (NASDAQ:SHEN) in an all-cash deal of about $640M, including net debt.
    • The deal -- the subject of rumors before -- means NTELOS shareholders will get $9.25/share (about $208M in cash) and Shentel will take on net debt of $431M.
    • Shentel correspondingly has expanded its affiliate relationship with Sprint (NYSE:S), which will shutter the "nTelos" brand and make the company's customers into Sprint-brand customers.
    • The move is a "liquidity event at an attractive premium," says NTELOS CEO Rod Dir.
    • Sprint shares gained 14% earlier today, to rise to their highest point in a month.
    • Previously: NTELOS down 15%, gives back takeover-rumor gains (Jun. 09 2015)
    • Previously: NTELOS up 19.7% on chatter Shentel could pay near-50% premium in buyout (May. 13 2015)
    | Aug. 10, 2015, 5:14 PM | 1 Comment
  • Jul. 31, 2015, 2:42 PM
    • Shenandoah Telecommunications (NASDAQ:SHEN) is up 8.4% -- and touching its highest point today since April -- after posting a Q2 report today where profits grew 22% and revenues grew more than 5% and beat expectations.
    • Adjusted OIBDA of $37.2M was up 12.7%, and beat an expected $35.1M.
    • Revenue by segment: Wireless, $51.6M; Cable, $23.97M; Wireline, $10.1M.
    • Capex was $15.6M, flat Y/Y. Cash and equivalents at June 30 were $92.1M, compared to $68.9M at year-end 2014, while outstanding debt was $212.8M.
    | Jul. 31, 2015, 2:42 PM
  • Nov. 1, 2013, 12:47 PM
    | Nov. 1, 2013, 12:47 PM
  • May 29, 2013, 1:28 PM
    U.S. telcos are having a rough day. A general selloff in high-yield stocks could be a factor, but not all of the decliners pay huge dividends (if any). VZ -2.9%. WIN -2.7%. CTL -2.4%. CBB -2.5%. CBEY -4.7%. TWTC -2.1%. TDS -2.6%. SHEN -7.4%. Volatile Latin American carrier NII Holdings (NIHD -7.2%) is also selling off.
    | May 29, 2013, 1:28 PM | 5 Comments
Company Description
Shenandoah Telecommunications Co. is a diversified telecommunications holding company, which through its operating subsidiaries, provides both regulated and unregulated telecommunications services to end-user customers and other communications providers in Virginia, West Virginia, central... More
Sector: Technology
Industry: Telecom Services - Domestic
Country: United States