Array Digital Infrastructure Inc. (NYSE:AD) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Five brokers give Array Digital Infrastructure an average rating of "Moderate Buy" (3 buys, 2 holds) with a mean 12‑month price target of $54.50.
• Quarterly results: The company beat EPS estimates ($0.48 vs. $0.30) and reported revenue of $60.33M, up 131.2% year‑over‑year; analysts forecast about 5.01 EPS for the current year.
• Market/valuation snapshot: Shares traded around $48.36, with a market cap of $4.18B and a PE ratio of 86.36, versus a 12‑month range of $44.03–$79.17.

Array Digital Infrastructure Inc. (NYSE:AD - Get Free Report) has received an average rating of "Moderate Buy" from the five brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $54.50.

A number of research analysts have issued reports on the company. Raymond James Financial set a $53.00 price target on Array Digital Infrastructure in a report on Monday, February 23rd. Weiss Ratings raised Array Digital Infrastructure from a "sell (d)" rating to a "hold (c)" rating in a report on Monday, March 16th. Wells Fargo & Company decreased their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an "overweight" rating for the company in a report on Thursday, February 12th. Citigroup decreased their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Finally, Wall Street Zen raised Array Digital Infrastructure from a "sell" rating to a "hold" rating in a report on Sunday, March 8th.

Array Digital Infrastructure Trading Down 1.0%

Shares of NYSE:AD opened at $48.36 on Friday. Array Digital Infrastructure has a 12-month low of $44.03 and a 12-month high of $79.17. The company has a market capitalization of $4.18 billion, a PE ratio of 86.36 and a beta of 0.17. The business has a 50 day moving average of $48.32 and a two-hundred day moving average of $49.55. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure (NYSE:AD - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $60.33 million during the quarter. Array Digital Infrastructure's revenue was up 131.2% compared to the same quarter last year. As a group, analysts forecast that Array Digital Infrastructure will post 5.01 EPS for the current year.

Institutional Trading of Array Digital Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in AD. Royal Bank of Canada purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $48,000. Empowered Funds LLC purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $54,000. Harbour Investments Inc. purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $61,000. Finally, Signaturefd LLC purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at approximately $73,000. 18.03% of the stock is currently owned by hedge funds and other 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.

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