Iridium Communications’ (IRDM) Sell Rating Reiterated at BWS Financial

BWS Financial reissued their sell rating on shares of Iridium Communications (NASDAQ:IRDM) in a research report sent to investors on Tuesday,Benzinga reports. BWS Financial currently has a $16.00 price target on the technology company’s stock.

A number of other brokerages have also commented on IRDM. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 price objective (down from $37.00) on shares of Iridium Communications in a research report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Iridium Communications in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.40.

Iridium Communications Trading Up 0.0%

IRDM opened at $23.08 on Tuesday. Iridium Communications has a 1-year low of $15.65 and a 1-year high of $33.34. The stock has a market capitalization of $2.42 billion, a PE ratio of 21.77, a PEG ratio of 1.57 and a beta of 0.61. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 3.80. The firm has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $19.55.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $212.94 million for the quarter, compared to analysts’ expectations of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. Iridium Communications’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, equities analysts anticipate that Iridium Communications will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. Iridium Communications’s payout ratio is 56.60%.

Hedge Funds Weigh In On Iridium Communications

Several institutional investors have recently modified their holdings of IRDM. Invesco Ltd. increased its stake in shares of Iridium Communications by 12.0% in the 4th quarter. Invesco Ltd. now owns 994,205 shares of the technology company’s stock valued at $17,279,000 after acquiring an additional 106,856 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Iridium Communications in the fourth quarter worth $193,000. State of Tennessee Department of Treasury boosted its position in shares of Iridium Communications by 47.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 48,695 shares of the technology company’s stock worth $846,000 after purchasing an additional 15,752 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Iridium Communications by 4.4% during the fourth quarter. Empowered Funds LLC now owns 11,350 shares of the technology company’s stock worth $197,000 after purchasing an additional 478 shares in the last quarter. Finally, VARCOV Co. acquired a new position in shares of Iridium Communications in the 4th quarter valued at $947,000. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.