Array Digital Infrastructure Inc. (NYSE:AD) Receives Consensus Rating of “Hold” from Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has been assigned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $54.50.

A number of analysts recently weighed in on AD shares. Raymond James Financial set a $53.00 target price on shares of Array Digital Infrastructure in a research note on Monday, February 23rd. Royal Bank Of Canada decreased their price target on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, January 21st. Wall Street Zen raised shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th.

Array Digital Infrastructure Trading Down 0.2%

AD opened at $48.15 on Friday. The business has a fifty day moving average price of $50.83 and a 200 day moving average price of $50.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.72 and a quick ratio of 0.72. Array Digital Infrastructure has a 12 month low of $44.03 and a 12 month high of $79.17. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 85.99 and a beta of 0.18.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The company had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The firm’s quarterly revenue was up 131.2% on a year-over-year basis.

Array Digital Infrastructure Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, February 2nd. Investors of record on Friday, January 23rd were issued a $10.25 dividend. The ex-dividend date of this dividend was Friday, January 23rd.

Institutional Trading of Array Digital Infrastructure

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada acquired a new position in shares of Array Digital Infrastructure during the 4th quarter worth about $25,000. Quadrant Capital Group LLC acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth about $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth about $54,000. Harbour Investments Inc. purchased a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $61,000. Finally, Signaturefd LLC purchased a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $73,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

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.