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

Shares of Array Digital Infrastructure Inc. (NYSE:AD) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $47.40.

A number of analysts have recently issued reports on AD shares. Wall Street Zen cut Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citigroup decreased their target price on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. 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 cut their price target on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings cut shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th.

Array Digital Infrastructure Stock Down 0.6%

Array Digital Infrastructure stock opened at $35.45 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $35.47 and its 200-day moving average is $44.02. The firm has a market capitalization of $3.07 billion, a PE ratio of 5.72 and a beta of 0.26. Array Digital Infrastructure has a fifty-two week low of $33.71 and a fifty-two week high of $60.82.

Array Digital Infrastructure (NYSE:AD) last issued its earnings results on Friday, August 7th. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $3.88. The business 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%. Sell-side analysts anticipate that Array Digital Infrastructure will post 0.8 earnings per share for the current year.

Array Digital Infrastructure Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AD. Dimensional Fund Advisors LP bought a new position in Array Digital Infrastructure in the 4th quarter valued at about $120,237,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Array Digital Infrastructure during the fourth quarter worth approximately $97,366,000. Vanguard Group Inc. bought a new stake in shares of Array Digital Infrastructure during the fourth quarter worth approximately $76,634,000. Gamco Investors INC. ET AL acquired a new position in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $51,720,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $40,842,000. Institutional investors and hedge funds own 18.03% of the company’s stock.

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.