Iridium Communications Inc (NASDAQ:IRDM) Given Consensus Rating of “Hold” by Analysts

Shares of Iridium Communications Inc (NASDAQ:IRDM) have earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.00.

Several equities analysts have issued reports on IRDM shares. Barclays restated a “buy” rating and set a $32.00 target price on shares of Iridium Communications in a research note on Thursday, October 31st. Zacks Investment Research cut shares of Iridium Communications from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Sidoti upgraded shares of Iridium Communications from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, October 9th. ValuEngine cut shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 7th. Finally, BWS Financial set a $33.00 target price on shares of Iridium Communications and gave the company a “buy” rating in a research note on Tuesday, September 17th.

In other Iridium Communications news, VP Timothy Kapalka sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $25.80, for a total transaction of $645,000.00. Following the transaction, the vice president now owns 47,138 shares in the company, valued at approximately $1,216,160.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven B. Pfeiffer sold 8,861 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $24.48, for a total transaction of $216,917.28. Following the transaction, the director now owns 110,792 shares in the company, valued at approximately $2,712,188.16. The disclosure for this sale can be found here. Insiders have sold a total of 146,677 shares of company stock worth $3,724,059 in the last 90 days. Company insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Executive Wealth Management LLC increased its position in shares of Iridium Communications by 378.7% during the 2nd quarter. Executive Wealth Management LLC now owns 1,795 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,420 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Iridium Communications during the 2nd quarter valued at about $43,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Iridium Communications during the 3rd quarter valued at about $55,000. Strs Ohio increased its position in shares of Iridium Communications by 42.9% during the 2nd quarter. Strs Ohio now owns 3,000 shares of the technology company’s stock valued at $69,000 after purchasing an additional 900 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Iridium Communications during the 2nd quarter valued at about $103,000. 76.52% of the stock is owned by hedge funds and other institutional investors.

Shares of Iridium Communications stock opened at $24.68 on Friday. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -176.29 and a beta of 2.08. The firm’s 50-day moving average is $23.12 and its 200 day moving average is $23.88. Iridium Communications has a 1 year low of $16.64 and a 1 year high of $28.24. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.91 and a quick ratio of 0.79.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.01). The firm had revenue of $144.80 million during the quarter, compared to the consensus estimate of $142.05 million. Iridium Communications had a negative return on equity of 3.91% and a negative net margin of 11.15%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, equities analysts expect that Iridium Communications will post -0.56 EPS for the current fiscal year.

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.

Featured Article: What strategies should day traders use to execute a trade?

Analyst Recommendations for Iridium Communications (NASDAQ:IRDM)

Receive News & Ratings for Iridium Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iridium Communications and related companies with MarketBeat.com's FREE daily email newsletter.