Iridium Communications Inc (NASDAQ:IRDM) Receives $25.00 Average Target Price from Analysts

Iridium Communications Inc (NASDAQ:IRDM) has received an average rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.00.

A number of research firms have issued reports on IRDM. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 target price (down from $37.00) on shares of Iridium Communications in a research note on Friday, January 16th. BWS Financial reaffirmed a “sell” rating and set a $16.00 price target on shares of Iridium Communications in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Iridium Communications in a research report on Thursday, January 22nd.

Institutional Investors Weigh In On Iridium Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its stake in Iridium Communications by 184.7% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after purchasing an additional 977 shares during the period. Larson Financial Group LLC raised its stake in shares of Iridium Communications by 392.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Iridium Communications in the third quarter valued at about $32,000. Johnson Financial Group Inc. acquired a new position in shares of Iridium Communications during the second quarter worth about $70,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Iridium Communications during the third quarter worth about $46,000. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Trading Down 1.7%

IRDM opened at $20.31 on Wednesday. The firm’s fifty day moving average is $18.76 and its two-hundred day moving average is $19.59. The firm has a market cap of $2.13 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.25 and a beta of 0.61. Iridium Communications has a twelve month low of $15.65 and a twelve month high of $34.45. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.93 and a current ratio of 2.67.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.60 dividend on an annualized basis and a yield of 3.0%. Iridium Communications’s payout ratio is presently 53.10%.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.