Brokerages expect Iridium Communications Inc. (NASDAQ:IRDM) to announce earnings of ($0.05) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Iridium Communications’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.05). Iridium Communications reported earnings of ($0.06) per share in the same quarter last year, which indicates a positive year over year growth rate of 16.7%. The business is scheduled to issue its next earnings results before the market opens on Tuesday, April 20th.

According to Zacks, analysts expect that Iridium Communications will report full-year earnings of ($0.19) per share for the current financial year, with EPS estimates ranging from ($0.21) to ($0.16). For the next year, analysts forecast that the company will post earnings of ($0.07) per share, with EPS estimates ranging from ($0.17) to $0.03. Zacks’ EPS averages are an average based on a survey of analysts that cover Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Wednesday, February 10th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.02. Iridium Communications had a negative net margin of 27.09% and a negative return on equity of 3.09%. The company had revenue of $146.51 million for the quarter, compared to the consensus estimate of $139.43 million. During the same period last year, the company earned ($0.82) earnings per share.

IRDM has been the topic of a number of recent analyst reports. BWS Financial downgraded shares of Iridium Communications from a “buy” rating to a “neutral” rating in a report on Wednesday, January 20th. Raymond James upgraded shares of Iridium Communications from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Tuesday, March 9th. Barclays downgraded shares of Iridium Communications from an “overweight” rating to an “underweight” rating and boosted their target price for the stock from $32.00 to $38.00 in a report on Friday, February 12th. Finally, Sidoti downgraded shares of Iridium Communications from a “buy” rating to a “neutral” rating in a report on Friday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.50.

Shares of NASDAQ IRDM traded up $1.29 during midday trading on Friday, reaching $41.36. The company’s stock had a trading volume of 49,610 shares, compared to its average volume of 1,665,071. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -33.96 and a beta of 1.33. Iridium Communications has a fifty-two week low of $19.18 and a fifty-two week high of $54.65. The stock has a 50 day simple moving average of $40.53 and a 200-day simple moving average of $37.00. The company has a current ratio of 2.85, a quick ratio of 2.52 and a debt-to-equity ratio of 1.13.

Iridium Communications declared that its board has approved a stock buyback plan on Wednesday, February 10th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other Iridium Communications news, EVP Scott Scheimreif sold 65,737 shares of the company’s stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $41.65, for a total value of $2,737,946.05. Following the transaction, the executive vice president now directly owns 170,808 shares in the company, valued at $7,114,153.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas C. Canfield sold 8,127 shares of the company’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $46.96, for a total transaction of $381,643.92. Following the completion of the transaction, the director now owns 225,614 shares in the company, valued at $10,594,833.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 388,114 shares of company stock worth $17,993,835. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in shares of Iridium Communications by 28.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 965 shares of the technology company’s stock valued at $38,000 after acquiring an additional 211 shares during the period. California State Teachers Retirement System boosted its position in shares of Iridium Communications by 0.3% in the third quarter. California State Teachers Retirement System now owns 177,820 shares of the technology company’s stock valued at $4,549,000 after acquiring an additional 488 shares during the period. Lazard Asset Management LLC boosted its position in shares of Iridium Communications by 6.2% in the fourth quarter. Lazard Asset Management LLC now owns 12,809 shares of the technology company’s stock valued at $503,000 after acquiring an additional 749 shares during the period. Janney Montgomery Scott LLC grew its stake in Iridium Communications by 1.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 56,950 shares of the technology company’s stock worth $2,240,000 after buying an additional 937 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in Iridium Communications in the fourth quarter valued at approximately $39,000. 81.62% of the stock is owned by institutional investors.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and product to businesses, the United States 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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