Array Digital Infrastructure Inc. (NYSE:AD) Receives $54.50 Average PT from Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $54.50.

A number of brokerages have recently issued reports on AD. Citigroup lowered their price objective on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Wells Fargo & Company reduced their target price on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. 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. Royal Bank Of Canada lowered 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 report on Monday, March 9th. Finally, Weiss Ratings upgraded shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, March 16th.

Institutional Trading of Array Digital Infrastructure

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new position in shares of Array Digital Infrastructure in the 4th quarter worth about $25,000. Quadrant Capital Group LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at about $48,000. Empowered Funds LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at about $54,000. Harbour Investments Inc. acquired a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $61,000. Finally, Signaturefd LLC acquired a new stake in Array Digital Infrastructure during the fourth quarter worth approximately $73,000. Institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Stock Performance

NYSE AD opened at $47.99 on Tuesday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 85.69 and a beta of 0.17. Array Digital Infrastructure has a twelve month low of $44.03 and a twelve month high of $79.17. The stock has a fifty day simple moving average of $48.25 and a 200 day simple moving average of $49.60. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.26.

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

Array Digital Infrastructure Dividend Announcement

The company 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 was Friday, January 23rd.

About Array Digital Infrastructure

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.