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.
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.
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