Array Digital Infrastructure (NYSE:AD) Shares Gap Up Following Dividend Announcement

Array Digital Infrastructure Inc. (NYSE:AD) shares gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $53.65, but opened at $56.25. Array Digital Infrastructure shares last traded at $57.6680, with a volume of 68,434 shares traded.

The newly announced dividend which will be paid on Monday, February 2nd. Investors of record on Friday, January 23rd will be given a dividend of $10.25 per share. The ex-dividend date of this dividend is Friday, January 23rd.

Analysts Set New Price Targets

AD has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, October 8th. Citigroup raised their price objective on Array Digital Infrastructure from $37.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada lowered their target price on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Finally, Wells Fargo & Company dropped their target price on shares of Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.33.

Array Digital Infrastructure Stock Up 7.4%

The firm’s 50-day moving average is $49.95. The firm has a market capitalization of $4.90 billion, a P/E ratio of 320.27 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.65 and a quick ratio of 0.65.

Array Digital Infrastructure Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.