Array Digital Infrastructure (NYSE:AD) Releases Earnings Results, Beats Estimates By $0.72 EPS

Array Digital Infrastructure (NYSE:AD) released its earnings results on Friday. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.72, Zacks reports. Array Digital Infrastructure had a positive return on equity of 1.67% and a negative net margin of 0.68%.The firm had revenue of $47.12 million for the quarter, compared to analysts’ expectations of $46.15 million.

Array Digital Infrastructure Price Performance

Array Digital Infrastructure stock traded down $1.44 during trading hours on Friday, reaching $46.25. The stock had a trading volume of 460,374 shares, compared to its average volume of 235,220. The company has a market capitalization of $3.93 billion, a P/E ratio of -154.16 and a beta of 0.18. The stock has a 50 day moving average of $49.83. Array Digital Infrastructure has a 52 week low of $46.07 and a 52 week high of $79.17. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61.

Insider Buying and Selling at Array Digital Infrastructure

In other news, Director Harry J. Harczak, Jr. sold 1,960 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $76.20, for a total transaction of $149,352.00. Following the completion of the sale, the director owned 19,374 shares in the company, valued at approximately $1,476,298.80. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas W. Chambers sold 93,300 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $75.77, for a total value of $7,069,341.00. Following the transaction, the chief executive officer owned 17,600 shares in the company, valued at approximately $1,333,552. This trade represents a 84.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, October 8th. Zacks Research raised shares of Array Digital Infrastructure to a “hold” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of Array Digital Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Wells Fargo & Company decreased their price target on shares of Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada started coverage on Array Digital Infrastructure in a report on Monday, October 27th. They issued an “outperform” rating and a $62.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.00.

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.