Iridium Communications Inc (NASDAQ:IRDM) Receives Average Rating of “Moderate Buy” from Analysts

by · The Markets Daily

Iridium Communications Inc (NASDAQ:IRDM – Get Free Report) has received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $34.25.

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Oppenheimer assumed coverage on Iridium Communications in a research note on Monday, May 5th. They set an “outperform” rating and a $34.00 price target on the stock. William Blair upgraded Iridium Communications from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 22nd. BWS Financial dropped their price target on Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price target on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th.

Check Out Our Latest Research Report on IRDM

Iridium Communications Trading Up 0.4%

IRDM opened at $30.17 on Tuesday. Iridium Communications has a one year low of $19.91 and a one year high of $35.85. The company has a market cap of $3.26 billion, a P/E ratio of 28.46, a PEG ratio of 1.02 and a beta of 0.75. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99. The business’s 50-day simple moving average is $26.47 and its 200-day simple moving average is $27.72.

Iridium Communications (NASDAQ:IRDM – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $214.88 million for the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 19.41% and a net margin of 14.68%. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, equities research analysts expect that Iridium Communications will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, June 13th. Iridium Communications’s dividend payout ratio is currently 52.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IRDM. Private Advisor Group LLC grew its stake in shares of Iridium Communications by 91.0% in the 4th quarter. Private Advisor Group LLC now owns 96,702 shares of the technology company’s stock valued at $2,806,000 after purchasing an additional 46,069 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Iridium Communications by 29.0% in the 4th quarter. Ieq Capital LLC now owns 18,540 shares of the technology company’s stock valued at $538,000 after purchasing an additional 4,172 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Iridium Communications by 33.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 32,793 shares of the technology company’s stock valued at $952,000 after purchasing an additional 8,142 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Iridium Communications by 48.5% in the 4th quarter. Impax Asset Management Group plc now owns 34,015 shares of the technology company’s stock valued at $987,000 after purchasing an additional 11,113 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Iridium Communications by 27.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,297,676 shares of the technology company’s stock valued at $37,659,000 after acquiring an additional 275,775 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Iridium Communications Company Profile

(Get Free Report

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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