Iridium Communications (IRDM) Scheduled to Post Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is scheduled to release its earnings data before the market opens on Thursday, April 18th. Analysts expect Iridium Communications to post earnings of $0.16 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, February 15th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.03 by $0.27. The business had revenue of $194.74 million during the quarter, compared to the consensus estimate of $192.13 million. Iridium Communications had a return on equity of 1.58% and a net margin of 1.95%. Iridium Communications’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Stock Up 0.5 %

Shares of Iridium Communications stock opened at $24.78 on Wednesday. The stock has a 50-day moving average price of $28.16 and a 200 day moving average price of $35.18. Iridium Communications has a 1 year low of $24.14 and a 1 year high of $68.34. The company has a market cap of $3.03 billion, a P/E ratio of 190.62 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 1.65.

Iridium Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s dividend payout ratio is 400.00%.

Institutional Trading of Iridium Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Partners II LLC increased its stake in shares of Iridium Communications by 1.9% in the first quarter. Advisor Partners II LLC now owns 8,589 shares of the technology company’s stock worth $532,000 after purchasing an additional 163 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Iridium Communications by 2.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,371 shares of the technology company’s stock valued at $580,000 after buying an additional 192 shares during the period. Captrust Financial Advisors grew its stake in shares of Iridium Communications by 0.8% in the second quarter. Captrust Financial Advisors now owns 24,362 shares of the technology company’s stock worth $1,513,000 after purchasing an additional 202 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Iridium Communications by 1.7% during the third quarter. Envestnet Asset Management Inc. now owns 13,582 shares of the technology company’s stock valued at $603,000 after acquiring an additional 223 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Iridium Communications by 1.0% during the first quarter. HighTower Advisors LLC now owns 30,063 shares of the technology company’s stock valued at $1,865,000 after buying an additional 290 shares during the period. 84.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IRDM shares. William Blair lowered Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. BWS Financial downgraded Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, February 16th. Raymond James reduced their price target on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a report on Friday, February 16th. Finally, Barclays cut their price objective on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international 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.