Wall Street analysts expect Iridium Communications Inc (NASDAQ:IRDM) to report $125.84 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Iridium Communications’ earnings. The lowest sales estimate is $123.48 million and the highest is $130.22 million. Iridium Communications reported sales of $115.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The firm is expected to issue its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Iridium Communications will report full year sales of $516.16 million for the current year, with estimates ranging from $514.00 million to $521.06 million. For the next financial year, analysts anticipate that the company will report sales of $540.22 million, with estimates ranging from $523.40 million to $552.18 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.06). The firm had revenue of $136.76 million for the quarter, compared to analyst estimates of $128.32 million. Iridium Communications had a return on equity of 1.01% and a net margin of 26.88%.

Several analysts have recently weighed in on IRDM shares. Northland Securities lowered shares of Iridium Communications from a “market perform” rating to an “under perform” rating in a report on Monday, September 10th. Raymond James raised shares of Iridium Communications to a “strong-buy” rating in a report on Thursday, October 11th. Sidoti reaffirmed a “neutral” rating on shares of Iridium Communications in a report on Monday, August 27th. BidaskClub raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research raised shares of Iridium Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.35.

Shares of NASDAQ IRDM traded down $0.17 during mid-day trading on Thursday, hitting $19.96. 549,369 shares of the stock were exchanged, compared to its average volume of 1,015,544. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 28.51 and a beta of 2.00. The company has a current ratio of 1.53, a quick ratio of 1.46 and a debt-to-equity ratio of 1.16. Iridium Communications has a twelve month low of $10.75 and a twelve month high of $24.10.

In related news, COO S. Scott Smith sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $20.10, for a total value of $70,350.00. Following the completion of the sale, the chief operating officer now owns 221,034 shares of the company’s stock, valued at $4,442,783.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 59,261 shares of company stock valued at $1,208,294. 5.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC acquired a new stake in shares of Iridium Communications in the second quarter valued at approximately $127,000. Sawtooth Solutions LLC acquired a new stake in shares of Iridium Communications in the third quarter valued at approximately $219,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Iridium Communications in the third quarter valued at approximately $219,000. Independent Advisor Alliance acquired a new stake in shares of Iridium Communications in the second quarter valued at approximately $161,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of Iridium Communications in the second quarter valued at approximately $169,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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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Earnings History and Estimates for Iridium Communications (NASDAQ:IRDM)

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