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

Array Digital Infrastructure Inc. (NYSE:AD) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $47.40.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Raymond James Financial cut Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research note on Monday, May 11th. Royal Bank Of Canada reduced their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a research report on Friday, July 10th. Finally, Citigroup decreased their price target on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating for the company in a research note on Thursday, August 13th.

Array Digital Infrastructure Trading Down 0.6%

AD opened at $35.45 on Friday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 5.72 and a beta of 0.26. Array Digital Infrastructure has a 12 month low of $33.71 and a 12 month high of $60.82. The firm’s fifty day simple moving average is $35.47 and its 200 day simple moving average is $44.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $3.88. The firm had revenue of $54.07 million during the quarter. Array Digital Infrastructure had a net margin of 250.79% and a return on equity of 8.52%. As a group, research analysts anticipate that Array Digital Infrastructure will post 0.8 EPS for the current fiscal year.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $11.00 per share. The ex-dividend date was Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of Array Digital Infrastructure during the 1st quarter worth approximately $33,000. Quadrant Capital Group LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at approximately $54,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Array Digital Infrastructure in the 4th quarter valued at approximately $61,000. 18.03% of the stock is currently owned by institutional investors and hedge funds.

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.