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Why Shenandoah (SHEN) Has A Bright Short-Term Future?

Zacks Equity Research

One company that should be on your radar is Shenandoah Telecommunications Co. (SHEN). The stock of this telecommunications service provider has seen its Zacks Rank surge over the past four weeks, moving from Sell territory to its current position as a Strong Buy.

A key reason for this move has been the positive trend in the earnings estimate revisions picture. For SHEN’s full year estimate, we have seen 1 estimate go higher in the past 30 days, compared to no estimate going lower. This trend has helped the consensus estimate to trend higher, going from $1.23 a share a month ago to its current level at $1.27.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, SHEN has seen some pretty solid trading lately, as the company has moved higher by 24.26% in the past month.

If Shenandoah can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put SHEN on your watch list for the future.

Other top-ranked stocks worth considering in this space include Nippon Telegraph and Telephone Corporation (NTT), Level 3 Communications, Inc. (LVLT), and Telecom Italia S.p.A. (TI). Nippon Telegraph and Telephone Corporation carries a Zacks Rank #1 (Strong Buy) while both Level 3 Communications and Telecom Italia carry a Zacks Rank #2 (Buy).

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NIPPON TELEGRAPH & TELEP (NTT): Free Stock Analysis Report

LEVEL 3 COMMUNICATIONS INC (LVLT): Free Stock Analysis Report

TELECOM ITALIA SPA (TI): Free Stock Analysis Report

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