Iridium Communications Inc (NASDAQ:IRDM) Announces $0.15 Quarterly Dividend

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Thursday, March 5th. Shareholders of record on Monday, March 16th will be paid a dividend of 0.15 per share by the technology company on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, March 16th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Iridium Communications to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 48.4%.

Iridium Communications Trading Down 0.0%

Iridium Communications stock traded down $0.01 during trading hours on Friday, reaching $23.94. The company had a trading volume of 537,294 shares, compared to its average volume of 2,272,696. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82. Iridium Communications has a 12-month low of $15.65 and a 12-month high of $33.34. The company has a 50-day moving average price of $20.65 and a 200 day moving average price of $19.50. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.68 and a beta of 0.60.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, February 12th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $212.94 million for the quarter, compared to analysts’ expectations of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities analysts forecast that Iridium Communications will post 0.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IRDM. Quadrant Capital Group LLC raised its holdings in Iridium Communications by 107.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after purchasing an additional 741 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Iridium Communications by 184.7% during the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after acquiring an additional 977 shares during the last quarter. Larson Financial Group LLC lifted its position in Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Iridium Communications in the fourth quarter valued at approximately $27,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Iridium Communications in the 3rd quarter worth $32,000. 84.36% of the stock is currently owned by institutional investors.

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.