-$0.09 EPS Expected for Iridium Communications Inc (IRDM) This Quarter
Equities research analysts expect Iridium Communications Inc (NASDAQ:IRDM) to announce earnings of ($0.09) per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Iridium Communications’ earnings. The lowest EPS estimate is ($0.19) and the highest is $0.04. Iridium Communications posted earnings per share of $0.23 in the same quarter last year, which indicates a negative year-over-year growth rate of 139.1%. The business is expected to announce its next quarterly earnings report before the market opens on Thursday, October 25th.
On average, analysts expect that Iridium Communications will report full-year earnings of ($0.26) per share for the current year, with EPS estimates ranging from ($0.55) to $0.12. For the next financial year, analysts forecast that the business will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.89) to $0.28. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Tuesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). Iridium Communications had a return on equity of 3.72% and a net margin of 36.66%. The firm had revenue of $134.93 million during the quarter, compared to analyst estimates of $120.54 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis.
Shares of IRDM stock traded down $0.05 during mid-day trading on Friday, hitting $19.85. The company’s stock had a trading volume of 38,901 shares, compared to its average volume of 1,013,297. Iridium Communications has a 52 week low of $9.95 and a 52 week high of $24.10. The company has a current ratio of 2.18, a quick ratio of 2.09 and a debt-to-equity ratio of 1.20. The firm has a market cap of $2.49 billion, a PE ratio of 28.31 and a beta of 1.84.
In other news, Director Thomas C. Canfield sold 12,500 shares of the firm’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 completion of 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 SEC, which is accessible through this link. Also, insider Thomas D. Hickey sold 13,455 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $18.86, for a total value of $253,761.30. Following the completion of the sale, the insider now owns 125,820 shares of the company’s stock, valued at $2,372,965.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,371 shares of company stock valued at $2,065,776. 5.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of IRDM. BlackRock Inc. grew its stake in shares of Iridium Communications by 8.3% in the 2nd quarter. BlackRock Inc. now owns 12,461,562 shares of the technology company’s stock valued at $200,630,000 after buying an additional 949,870 shares during the period. Renaissance Technologies LLC grew its stake in shares of Iridium Communications by 187.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,038,600 shares of the technology company’s stock valued at $16,721,000 after buying an additional 677,100 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Iridium Communications by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,525,448 shares of the technology company’s stock valued at $72,860,000 after buying an additional 594,513 shares during the period. Wells Fargo & Company MN grew its stake in shares of Iridium Communications by 143.8% in the 1st quarter. Wells Fargo & Company MN now owns 838,345 shares of the technology company’s stock valued at $9,432,000 after buying an additional 494,515 shares during the period. Finally, EAM Investors LLC acquired a new stake in shares of Iridium Communications in the 2nd quarter valued at about $3,451,000. Institutional investors own 86.23% of the company’s stock.
Iridium Communications Company Profile
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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