Zacks Research Has Negative Estimate for IRDM Q1 Earnings

Iridium Communications Inc (NASDAQ:IRDM) – Equities researchers at Zacks Research decreased their Q1 2027 earnings per share estimates for shares of Iridium Communications in a research note issued to investors on Tuesday, November 10th. Zacks Research analyst Team now forecasts that the technology company will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.26. The consensus estimate for Iridium Communications’ current full-year earnings is $0.98 per share. Zacks Research also issued estimates for Iridium Communications’ Q2 2027 earnings at $0.24 EPS, Q1 2028 earnings at $0.27 EPS, Q2 2028 earnings at $0.22 EPS and Q3 2028 earnings at $0.29 EPS.

Several other research analysts also recently commented on IRDM. New Street Research raised Iridium Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Iridium Communications from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $41.20.

Iridium Communications Stock Performance

NASDAQ:IRDM opened at $46.13 on Wednesday. Iridium Communications has a twelve month low of $15.65 and a twelve month high of $57.18. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 3.34. The stock’s 50-day simple moving average is $46.42 and its 200 day simple moving average is $40.43. The firm has a market capitalization of $4.90 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 3.52 and a beta of 0.87.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.64. Iridium Communications had a return on equity of 22.04% and a net margin of 18.06%. The company had revenue of $245.73 million during the quarter, compared to analysts’ expectations of $236.30 million. During the same quarter in the previous year, the firm earned $0.35 EPS.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IRDM. BlackRock Inc. bought a new stake in shares of Iridium Communications in the 2nd quarter valued at about $737,587,000. Van ECK Associates Corp raised its position in shares of Iridium Communications by 50.9% during the second quarter. Van ECK Associates Corp now owns 2,270,799 shares of the technology company’s stock worth $124,553,000 after acquiring an additional 766,171 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Iridium Communications by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,159,061 shares of the technology company’s stock worth $59,884,000 after acquiring an additional 65,937 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Iridium Communications in the second quarter worth approximately $62,751,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Iridium Communications by 2.2% in the first quarter. Principal Financial Group Inc. now owns 508,290 shares of the technology company’s stock worth $14,100,000 after acquiring an additional 10,702 shares during the period. 84.36% of the stock is owned by institutional investors.

Insider Activity

In other Iridium Communications news, EVP Timothy Last sold 5,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $46.35, for a total transaction of $267,393.15. Following the sale, the executive vice president directly owned 84,130 shares of the company’s stock, valued at $3,899,425.50. The trade was a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzanne E. Mcbride sold 85,454 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $50.28, for a total transaction of $4,296,627.12. Following the completion of the transaction, the insider owned 282,017 shares of the company’s stock, valued at approximately $14,179,814.76. This trade represents a 23.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 381,688 shares of company stock worth $19,146,390. Company insiders own 2.70% of the company’s stock.

About Iridium Communications

Iridium Communications provides satellite voice and data services through a low Earth orbit constellation designed to deliver coverage across the globe, including polar regions and remote areas beyond the reach of many terrestrial networks. Its customers include businesses, government agencies, and individuals working on land, at sea, and in the air. The company offers satellite phones, voice and broadband connectivity, push-to-talk communications, and Internet of Things services. Its Iridium Certus platform supports voice and data applications, while its network also carries safety and operational communications for sectors such as maritime, aviation, and government.