Equities analysts expect that Iridium Communications Inc (NASDAQ:IRDM) will post sales of $125.84 million for the current quarter, Zacks reports. Four analysts have provided estimates for Iridium Communications’ earnings, with estimates ranging from $123.48 million to $130.22 million. Iridium Communications posted sales of $115.47 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is expected to issue its next earnings results on Thursday, February 28th.

On average, analysts expect that Iridium Communications will report full year sales of $518.66 million for the current financial year, with estimates ranging from $514.32 million to $526.50 million. For the next financial year, analysts forecast that the company will report sales of $539.96 million, with estimates ranging from $523.40 million to $552.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.06). Iridium Communications had a net margin of 26.88% and a return on equity of 1.01%. The company had revenue of $136.76 million for the quarter, compared to the consensus estimate of $128.32 million.

A number of research firms have commented on IRDM. Zacks Investment Research downgraded shares of Iridium Communications from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 27th. BidaskClub upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 27th. Raymond James raised their price target on shares of Iridium Communications from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Sidoti restated a “neutral” rating on shares of Iridium Communications in a research report on Monday, August 27th. Finally, Barclays initiated coverage on shares of Iridium Communications in a research report on Tuesday, October 30th. They issued an “overweight” rating and a $26.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.35.

In other news, COO S. Scott Smith sold 3,500 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $24.08, for a total value of $84,280.00. Following the transaction, the chief operating officer now directly owns 216,467 shares in the company, valued at approximately $5,212,525.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew J. Desch sold 274,075 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $21.53, for a total transaction of $5,900,834.75. Following the completion of the transaction, the chief executive officer now owns 1,200,754 shares in the company, valued at $25,852,233.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 319,575 shares of company stock worth $6,848,915. Insiders own 5.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Piedmont Investment Advisors Inc. increased its holdings in shares of Iridium Communications by 12.3% in the 3rd quarter. Piedmont Investment Advisors Inc. now owns 22,192 shares of the technology company’s stock worth $499,000 after acquiring an additional 2,434 shares during the period. Independent Advisor Alliance increased its holdings in shares of Iridium Communications by 25.0% in the 3rd quarter. Independent Advisor Alliance now owns 12,500 shares of the technology company’s stock worth $282,000 after acquiring an additional 2,500 shares during the period. American International Group Inc. increased its holdings in shares of Iridium Communications by 4.0% in the 3rd quarter. American International Group Inc. now owns 75,437 shares of the technology company’s stock worth $1,697,000 after acquiring an additional 2,907 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Iridium Communications by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 22,399 shares of the technology company’s stock worth $361,000 after acquiring an additional 3,074 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Iridium Communications by 13.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,199 shares of the technology company’s stock worth $701,000 after acquiring an additional 3,768 shares during the period. Institutional investors own 86.05% of the company’s stock.

NASDAQ IRDM traded down $0.75 during trading hours on Friday, reaching $21.87. 1,189,886 shares of the company traded hands, compared to its average volume of 1,018,559. Iridium Communications has a 12 month low of $10.75 and a 12 month high of $24.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.53 and a quick ratio of 1.46. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 31.24 and a beta of 2.05.

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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