-$0.02 Earnings Per Share Expected for Iridium Communications Inc. (NASDAQ:IRDM) This Quarter

Equities research analysts forecast that Iridium Communications Inc. (NASDAQ:IRDM) will post earnings of ($0.02) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Iridium Communications’ earnings, with the highest EPS estimate coming in at $0.04 and the lowest estimate coming in at ($0.07). Iridium Communications posted earnings per share of ($0.03) in the same quarter last year, which would suggest a positive year over year growth rate of 33.3%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, October 19th.

According to Zacks, analysts expect that Iridium Communications will report full-year earnings of ($0.10) per share for the current financial year, with EPS estimates ranging from ($0.12) to ($0.06). For the next financial year, analysts forecast that the company will post earnings of $0.09 per share, with EPS estimates ranging from ($0.11) to $0.36. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Monday, July 19th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. Iridium Communications had a negative return on equity of 0.96% and a negative net margin of 2.23%. The business had revenue of $149.92 million during the quarter, compared to analyst estimates of $148.53 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year.

Several brokerages have issued reports on IRDM. Barclays upgraded Iridium Communications from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $35.50 to $40.00 in a research report on Monday, July 26th. Morgan Stanley assumed coverage on Iridium Communications in a report on Tuesday, August 3rd. They issued an “overweight” rating and a $50.00 price target for the company. Finally, Zacks Investment Research lowered Iridium Communications from a “strong-buy” rating to a “hold” rating and set a $47.00 price target for the company. in a report on Tuesday, September 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Iridium Communications presently has a consensus rating of “Hold” and a consensus target price of $43.60.

Shares of NASDAQ:IRDM traded up $0.43 during trading hours on Friday, hitting $39.00. 24,166 shares of the company’s stock traded hands, compared to its average volume of 1,086,389. Iridium Communications has a 1 year low of $25.30 and a 1 year high of $54.65. The business has a fifty day moving average price of $42.30 and a 200-day moving average price of $40.28. The firm has a market capitalization of $5.15 billion, a P/E ratio of -385.66 and a beta of 1.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 3.70 and a quick ratio of 3.38.

In other Iridium Communications news, VP Timothy Kapalka sold 2,070 shares of the company’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $46.00, for a total transaction of $95,220.00. Following the completion of the sale, the vice president now owns 22,284 shares in the company, valued at $1,025,064. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Bryan J. Hartin sold 1,925 shares of the company’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $41.25, for a total value of $79,406.25. Following the sale, the executive vice president now owns 82,660 shares of the company’s stock, valued at approximately $3,409,725. The disclosure for this sale can be found here. Insiders sold 87,967 shares of company stock valued at $3,662,222 in the last quarter. 2.50% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of IRDM. Albion Financial Group UT purchased a new stake in Iridium Communications during the second quarter worth $40,000. Maverick Capital Ltd. acquired a new position in shares of Iridium Communications during the first quarter worth $91,000. Occudo Quantitative Strategies LP acquired a new position in shares of Iridium Communications during the first quarter worth $206,000. Advisor Partners LLC acquired a new position in shares of Iridium Communications during the first quarter worth $212,000. Finally, XTX Topco Ltd acquired a new position in shares of Iridium Communications during the second quarter worth $213,000. Institutional investors own 84.51% of the company’s stock.

Iridium Communications Company Profile

Iridium Communications, Inc is a mobile voice and data satellite communications network. Its satellite network provides communication where terrestrial wireless or wireline networks do not exist or are limited. The company’s principal lines of business include Land Mobile, Maritime, Aviation, IoT Data Services, Hosted Payloads and Other Data Services, and Government.

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