Iridium Communications (IRDM) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Iridium Communications (NASDAQ:IRDM) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other brokerages have also recently commented on IRDM. ValuEngine cut Iridium Communications from a strong-buy rating to a buy rating in a research report on Friday, February 23rd. Zacks Investment Research raised Iridium Communications from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $13.00.

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Shares of NASDAQ IRDM opened at $11.25 on Tuesday. Iridium Communications has a one year low of $8.88 and a one year high of $13.25. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 1.92. The firm has a market cap of $1,228.54, a PE ratio of 16.07, a PEG ratio of 31.03 and a beta of 1.79.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.24). Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. The firm had revenue of $115.50 million for the quarter, compared to analysts’ expectations of $111.71 million. During the same period in the prior year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. research analysts expect that Iridium Communications will post 0.07 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in IRDM. Elkfork Partners LLC bought a new stake in shares of Iridium Communications during the 4th quarter valued at $108,000. Jane Street Group LLC bought a new stake in shares of Iridium Communications during the 4th quarter valued at $129,000. Trexquant Investment LP bought a new stake in shares of Iridium Communications during the 3rd quarter valued at $191,000. Alps Advisors Inc. bought a new stake in shares of Iridium Communications during the 4th quarter valued at $257,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Iridium Communications during the 3rd quarter valued at $286,000. Institutional investors own 99.96% of the company’s stock.

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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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