Equities analysts expect that Iridium Communications Inc (NASDAQ:IRDM) will announce $128.32 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Iridium Communications’ earnings, with the highest sales estimate coming in at $130.05 million and the lowest estimate coming in at $126.10 million. Iridium Communications reported sales of $116.55 million during the same quarter last year, which indicates a positive year over year growth rate of 10.1%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Iridium Communications will report full-year sales of $508.39 million for the current fiscal year, with estimates ranging from $506.01 million to $514.00 million. For the next fiscal year, analysts expect that the firm will report sales of $540.78 million, with estimates ranging from $523.40 million to $556.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Iridium Communications.

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

IRDM has been the subject of several recent analyst reports. Raymond James lifted their price target on Iridium Communications from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. BidaskClub lowered Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Northland Securities reaffirmed a “hold” rating and issued a $14.75 price target on shares of Iridium Communications in a research report on Wednesday, August 1st. Zacks Investment Research lowered Iridium Communications from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 4th. Finally, Sidoti reaffirmed a “neutral” rating on shares of Iridium Communications in a research report on Monday, August 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.55.

In other Iridium Communications news, EVP Bryan J. Hartin sold 29,655 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $19.23, for a total value of $570,265.65. Following the completion of the transaction, the executive vice president now owns 94,168 shares of the company’s stock, valued at approximately $1,810,850.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas D. Hickey sold 13,455 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $18.86, for a total value of $253,761.30. Following the completion of the transaction, the insider now directly owns 125,820 shares of the company’s stock, valued at approximately $2,372,965.20. The disclosure for this sale can be found here. In the last three months, insiders sold 104,371 shares of company stock valued at $2,065,776. 5.60% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of IRDM. Wells Fargo & Company MN raised its position in Iridium Communications by 143.8% in the 1st quarter. Wells Fargo & Company MN now owns 838,345 shares of the technology company’s stock worth $9,432,000 after buying an additional 494,515 shares during the last quarter. Northern Trust Corp raised its position in Iridium Communications by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,246,797 shares of the technology company’s stock worth $25,276,000 after buying an additional 7,803 shares during the last quarter. JPMorgan Chase & Co. raised its position in Iridium Communications by 96.9% in the 1st quarter. JPMorgan Chase & Co. now owns 430,209 shares of the technology company’s stock worth $4,840,000 after buying an additional 211,675 shares during the last quarter. Principal Financial Group Inc. raised its position in Iridium Communications by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 706,703 shares of the technology company’s stock worth $7,950,000 after buying an additional 21,616 shares during the last quarter. Finally, BB&T Securities LLC raised its position in Iridium Communications by 12.2% in the 1st quarter. BB&T Securities LLC now owns 96,347 shares of the technology company’s stock worth $1,083,000 after buying an additional 10,482 shares during the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

Shares of IRDM traded down $0.38 during trading hours on Monday, hitting $19.60. The company had a trading volume of 747,686 shares, compared to its average volume of 1,341,995. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.18 and a quick ratio of 2.09. The firm has a market cap of $2.21 billion, a PE ratio of 28.00 and a beta of 1.84. Iridium Communications has a 52-week low of $9.95 and a 52-week high of $24.10.

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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Earnings History and Estimates for Iridium Communications (NASDAQ:IRDM)

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