Iridium Communications (IRDM) to Release Quarterly Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.27. Iridium Communications had a return on equity of 1.58% and a net margin of 1.95%. The firm had revenue of $194.74 million during the quarter, compared to the consensus estimate of $192.13 million. During the same period last year, the business posted ($0.01) EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Price Performance

Shares of IRDM opened at $24.78 on Wednesday. The firm has a market cap of $3.03 billion, a PE ratio of 190.62 and a beta of 0.85. Iridium Communications has a 52-week low of $24.14 and a 52-week high of $68.34. The business’s 50 day moving average price is $28.16 and its two-hundred day moving average price is $35.18. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.37 and a current ratio of 2.06.

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.10%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s dividend payout ratio (DPR) is presently 400.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IRDM. William Blair cut Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. TheStreet upgraded Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Barclays reduced their price objective on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. BWS Financial downgraded Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research note on Friday, February 16th. Finally, Raymond James dropped their price objective on 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.80.

Hedge Funds Weigh In On Iridium Communications

A number of institutional investors and hedge funds have recently modified their holdings of IRDM. Rhumbline Advisers boosted its stake in Iridium Communications by 1.1% during the first quarter. Rhumbline Advisers now owns 359,276 shares of the technology company’s stock worth $14,486,000 after buying an additional 3,957 shares during the period. BlackRock Inc. boosted its stake in shares of Iridium Communications by 0.5% during the 1st quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock worth $634,635,000 after purchasing an additional 71,031 shares during the period. Great West Life Assurance Co. Can grew its holdings in Iridium Communications by 7.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 70,873 shares of the technology company’s stock valued at $2,934,000 after purchasing an additional 4,877 shares during the last quarter. Yousif Capital Management LLC raised its position in Iridium Communications by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 69,722 shares of the technology company’s stock worth $2,811,000 after purchasing an additional 2,353 shares during the period. Finally, Raymond James Trust N.A. raised its position in Iridium Communications by 16.6% in the 1st quarter. Raymond James Trust N.A. now owns 9,943 shares of the technology company’s stock worth $401,000 after purchasing an additional 1,417 shares during the period. Hedge funds and other institutional investors own 84.36% of the company’s stock.

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.