Array Digital Infrastructure Inc. (NYSE:AD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $54.50.

Several brokerages recently commented on AD. Royal Bank Of Canada lowered their price target on Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Raymond James Financial set a $53.00 price objective on shares of Array Digital Infrastructure in a research report on Monday, February 23rd. Citigroup decreased their target price on shares of 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 dropped their price target on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Finally, Weiss Ratings upgraded shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th.

Array Digital Infrastructure Trading Down 0.0%

NYSE AD opened at $47.99 on Tuesday. Array Digital Infrastructure has a 1-year low of $44.03 and a 1-year high of $79.17. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.08 billion, a PE ratio of 85.69 and a beta of 0.17. The firm’s fifty day simple moving average is $48.25 and its 200-day simple moving average is $49.58.

Array Digital Infrastructure (NYSE:AD) last released its quarterly earnings data 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. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The firm had revenue of $60.33 million during the quarter. Array Digital Infrastructure’s revenue for the quarter was up 131.2% compared to the same quarter last year.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 23rd were given 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

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP bought a new position in shares of Array Digital Infrastructure in the 4th quarter valued at approximately $120,237,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Array Digital Infrastructure during the 4th quarter worth $97,366,000. Vanguard Group Inc. acquired a new position in Array Digital Infrastructure in the 4th quarter valued at $76,634,000. Gamco Investors INC. ET AL acquired a new position in Array Digital Infrastructure in the 4th quarter valued at $51,720,000. Finally, Loomis Sayles & Co. L P bought a new position in Array Digital Infrastructure in the 4th quarter worth $40,842,000. 18.03% of the stock is currently owned by institutional investors.

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.