Equities research analysts predict that Iridium Communications Inc (NASDAQ:IRDM) will post earnings per share of ($0.09) for the current quarter, Zacks reports. Four analysts have provided estimates for Iridium Communications’ earnings, with estimates ranging from ($0.19) to $0.04. Iridium Communications reported earnings per share of $0.23 in the same quarter last year, which suggests a negative year over year growth rate of 139.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Iridium Communications will report full year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.55) to $0.12. For the next year, analysts anticipate that the firm will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.89) to $0.31. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Tuesday, July 31st. The technology company reported ($0.06) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The company had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $120.54 million. Iridium Communications had a return on equity of 3.72% and a net margin of 36.66%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.20 EPS.

A number of research firms have recently commented on IRDM. Zacks Investment Research upgraded Iridium Communications from a “sell” rating to a “hold” rating in a research note on Saturday, May 12th. TheStreet cut Iridium Communications from a “b” rating to a “c+” rating in a research note on Tuesday, May 15th. BidaskClub upgraded Iridium Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 26th. Northland Securities reiterated a “hold” rating and set a $14.75 target price on shares of Iridium Communications in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 31st. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.44.

In related news, Director Thomas C. Canfield sold 12,500 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $19.30, for a total value of $241,250.00. Following the sale, the director now directly owns 212,498 shares in the company, valued at approximately $4,101,211.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO S. Scott Smith sold 27,761 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $20.55, for a total value of $570,488.55. Following the completion of the sale, the chief operating officer now owns 246,362 shares in the company, valued at $5,062,739.10. The disclosure for this sale can be found here. Insiders sold a total of 83,371 shares of company stock worth $1,635,766 over the last 90 days. 5.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Iridium Communications by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 22,399 shares of the technology company’s stock valued at $361,000 after acquiring an additional 3,074 shares during the period. Brown Advisory Inc. increased its position in shares of Iridium Communications by 1.5% during the second quarter. Brown Advisory Inc. now owns 273,718 shares of the technology company’s stock valued at $4,407,000 after buying an additional 4,005 shares during the period. Aperio Group LLC increased its position in shares of Iridium Communications by 9.4% during the second quarter. Aperio Group LLC now owns 60,240 shares of the technology company’s stock valued at $970,000 after buying an additional 5,183 shares during the period. Princeton Portfolio Strategies Group LLC increased its position in shares of Iridium Communications by 28.3% during the first quarter. Princeton Portfolio Strategies Group LLC now owns 25,260 shares of the technology company’s stock valued at $284,000 after buying an additional 5,570 shares during the period. Finally, MetLife Investment Advisors LLC increased its position in shares of Iridium Communications by 14.9% during the second quarter. MetLife Investment Advisors LLC now owns 44,054 shares of the technology company’s stock valued at $709,000 after buying an additional 5,698 shares during the period. Institutional investors and hedge funds own 86.24% of the company’s stock.

NASDAQ IRDM opened at $21.45 on Friday. The firm has a market cap of $2.33 billion, a PE ratio of 30.64 and a beta of 1.84. Iridium Communications has a one year low of $9.68 and a one year high of $21.55. The company has a current ratio of 2.18, a quick ratio of 2.09 and a debt-to-equity ratio of 1.20.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of things (IoT) services.

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