Array Digital Infrastructure (NYSE:AD) Price Target Lowered to $54.00 at Royal Bank Of Canada

Array Digital Infrastructure (NYSE:AD) had its target price decreased by Royal Bank Of Canada from $60.00 to $54.00 in a report issued on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

AD has been the topic of several other research reports. Raymond James Financial set a $53.00 target price on Array Digital Infrastructure in a research report on Monday, February 23rd. Wall Street Zen upgraded Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Sunday. Citigroup cut their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $54.50.

Array Digital Infrastructure Trading Up 0.3%

NYSE:AD opened at $49.18 on Monday. Array Digital Infrastructure has a 52 week low of $44.03 and a 52 week high of $79.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s fifty day moving average is $51.15 and its 200-day moving average is $50.28. The firm has a market cap of $4.18 billion, a P/E ratio of 87.82 and a beta of 0.18.

Array Digital Infrastructure (NYSE:AD) last released its earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.18. The business had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a net margin of 2.51% and a return on equity of 4.89%. The business’s revenue for the quarter was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Announces Dividend

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

Hedge Funds Weigh In On Array Digital Infrastructure

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

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.