Wall Street brokerages expect that Iridium Communications Inc (NASDAQ:IRDM) will announce sales of $138.27 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Iridium Communications’ earnings. The lowest sales estimate is $133.14 million and the highest is $141.81 million. Iridium Communications posted sales of $144.79 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, October 20th.

On average, analysts expect that Iridium Communications will report full-year sales of $558.41 million for the current financial year, with estimates ranging from $551.21 million to $562.07 million. For the next fiscal year, analysts expect that the company will post sales of $586.34 million, with estimates ranging from $572.58 million to $597.88 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Tuesday, July 28th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.05. The business had revenue of $140.17 million during the quarter, compared to analysts’ expectations of $136.76 million. Iridium Communications had a negative return on equity of 3.97% and a negative net margin of 29.87%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS.

Several brokerages have recently issued reports on IRDM. Raymond James lifted their price objective on Iridium Communications from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. BidaskClub upgraded Iridium Communications from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $29.75.

Shares of IRDM opened at $28.04 on Friday. The stock has a 50-day simple moving average of $27.48 and a 200-day simple moving average of $25.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.88 and a current ratio of 2.25. The stock has a market capitalization of $3.72 billion, a PE ratio of -21.74 and a beta of 1.40. Iridium Communications has a 1 year low of $16.87 and a 1 year high of $32.08.

In other news, VP Timothy Kapalka sold 1,153 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $29.90, for a total transaction of $34,474.70. Following the sale, the vice president now owns 24,208 shares of the company’s stock, valued at approximately $723,819.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Fitzpatrick sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $28.00, for a total value of $2,800,000.00. Following the sale, the chief financial officer now directly owns 454,285 shares in the company, valued at approximately $12,719,980. The disclosure for this sale can be found here. Insiders have sold a total of 462,676 shares of company stock worth $13,123,118 in the last three months. Corporate insiders own 3.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hall Laurie J Trustee acquired a new position in Iridium Communications during the third quarter worth approximately $30,000. Private Advisor Group LLC acquired a new position in Iridium Communications during the second quarter worth approximately $44,000. Jaffetilchin Investment Partners LLC acquired a new position in Iridium Communications during the second quarter worth approximately $70,000. Mutual of America Capital Management LLC increased its position in Iridium Communications by 14.8% during the second quarter. Mutual of America Capital Management LLC now owns 4,814 shares of the technology company’s stock worth $122,000 after buying an additional 619 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Iridium Communications during the second quarter worth approximately $130,000. 83.23% of the stock is currently owned by institutional investors.

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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