Shares of Iridium Communications Inc. (NASDAQ:IRDM – Get Free Report) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $44.25.
A number of analysts have recently commented on IRDM shares. William Blair lowered shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Raymond James reduced their price target on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a research note on Friday, February 16th. Barclays reduced their price target on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. TheStreet upgraded shares of Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Finally, BWS Financial reissued a “neutral” rating and issued a $30.00 price objective on shares of Iridium Communications in a report on Monday.
Check Out Our Latest Report on IRDM
Hedge Funds Weigh In On Iridium Communications
Iridium Communications Stock Up 2.2 %
NASDAQ:IRDM opened at $28.74 on Wednesday. The firm has a market cap of $3.49 billion, a P/E ratio of 136.86 and a beta of 0.85. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.52 and a current ratio of 3.33. Iridium Communications has a fifty-two week low of $24.14 and a fifty-two week high of $68.34. The firm has a 50-day simple moving average of $27.51 and a two-hundred day simple moving average of $34.68.
Iridium Communications (NASDAQ:IRDM – Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The business had revenue of $203.80 million during the quarter, compared to analyst estimates of $193.84 million. During the same period last year, the business earned $0.08 EPS. Iridium Communications’s revenue was down .7% compared to the same quarter last year. Analysts predict that Iridium Communications will post 0.72 earnings per share for the current fiscal year.
Iridium Communications Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s payout ratio is 247.62%.
Iridium Communications Company Profile
Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international 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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