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Strength Seen in Array Digital (AD): Can Its 6.6% Jump Turn into More Strength?
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Array Digital Infrastructure (AD - Free Report) shares ended the last trading session 6.6% higher at $57.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.8% gain over the past four weeks.
With a portfolio of more than 4,400 cellular network towers, Array seeks to augment its revenues by increasing third-party colocations on existing towers through providing unique tower locations, attractive terms and streamlined implementation to third-party wireless operators. It also aims to opportunistically monetize its wireless spectrum licenses along with tower assets.
Array has inked a Master License Agreement (MLA) with T-Mobile, pursuant to which T-Mobile has agreed to license space for a minimum of 15 years on a minimum of 2,015 existing or to-be-constructed towers owned by Array. The MLA also provided that T-Mobile extend the license term for approximately 600 towers owned by Array for a new 15-year term commencing on August 1, 2025. This ensures a steady stream of income for Array.
This wireless telecommunications service provider is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +540%. Revenues are expected to be $57.72 million, down 94.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Array Digital, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AD going forward to see if this recent jump can turn into more strength down the road.
Array Digital is a member of the Zacks Wireless National industry. One other stock in the same industry, Verizon Communications (VZ - Free Report) , finished the last trading session 2.1% higher at $39.83. VZ has returned -4.3% over the past month.
Verizon's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.06. Compared to the company's year-ago EPS, this represents a change of -3.6%. Verizon currently boasts a Zacks Rank of #4 (Sell).
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Strength Seen in Array Digital (AD): Can Its 6.6% Jump Turn into More Strength?
Array Digital Infrastructure (AD - Free Report) shares ended the last trading session 6.6% higher at $57.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.8% gain over the past four weeks.
With a portfolio of more than 4,400 cellular network towers, Array seeks to augment its revenues by increasing third-party colocations on existing towers through providing unique tower locations, attractive terms and streamlined implementation to third-party wireless operators. It also aims to opportunistically monetize its wireless spectrum licenses along with tower assets.
Array has inked a Master License Agreement (MLA) with T-Mobile, pursuant to which T-Mobile has agreed to license space for a minimum of 15 years on a minimum of 2,015 existing or to-be-constructed towers owned by Array. The MLA also provided that T-Mobile extend the license term for approximately 600 towers owned by Array for a new 15-year term commencing on August 1, 2025. This ensures a steady stream of income for Array.
This wireless telecommunications service provider is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +540%. Revenues are expected to be $57.72 million, down 94.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Array Digital, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Array Digital is a member of the Zacks Wireless National industry. One other stock in the same industry, Verizon Communications (VZ - Free Report) , finished the last trading session 2.1% higher at $39.83. VZ has returned -4.3% over the past month.
Verizon's consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.06. Compared to the company's year-ago EPS, this represents a change of -3.6%. Verizon currently boasts a Zacks Rank of #4 (Sell).