EDINBURG, Va., October 20, 2019 – Shares of Shenandoah Telecommunications Company (NASDAQ: SHEN) declined -1.98% to $30.77. The stock traded total volume of 95.948K shares lower than the average volume of 138.92K shares.
For the three months ended March 31, 2019, Shenandoah Telecommunications Company (SHEN) reported net income of $13.90M, resulting in net income per share of $0.28, compared with $0.13 per share in the first quarter of 2018, reflecting an increase of approximately 115%.
Operating revenue for the first quarter of 2019 was $158.80M, representing a year-over-year increase of 3.1%, driven by strong subscriber growth in the Wireless and Cable segments.
Operating expenses for the three months ended March 31, 2019 were $134.10M, compared with $137.40M for the equivalent quarter in the prior year primarily due to a decline in network costs for the Wireless segment attributable to repricing backhaul circuits and migrating voice traffic from traditional circuit-switched facilities to more cost effective VoIP facilities. The decrease was offset by higher costs for the Cable segment primarily due to our deployment of higher-speed data access packages and infrastructure investments necessary to support its growing cable and fiber networks.
Operating income for the three months ended March 31, 2019 increased 47.9% to $24.80M from $16.80M in the prior year quarter.
Adjusted OIBDA increased 6.3% to $73.00M for the three months ended March 31, 2019, driven by subscriber growth in the Wireless and Cable segments.
SHEN has the market capitalization of $1.56B and its EPS growth ratio for the past five years was 8.70%. The return on assets ratio of the Company was 3.50% while its return on investment ratio stands at 6.40%. Price to sales ratio was 2.45 while 51.80% of the stock was owned by institutional investors.