Iridium Communications Inc. (NASDAQ:IRDM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Iridium Communications Inc. (NASDAQ:IRDM) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $44.25.

A number of analysts have recently weighed in on IRDM shares. Barclays lowered their price target on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. William Blair cut shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. BWS Financial restated a “neutral” rating and issued a $30.00 price target on shares of Iridium Communications in a report on Monday. Raymond James lowered their price target on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a report on Friday, February 16th. Finally, TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th.

Hedge Funds Weigh In On Iridium Communications

A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its position in Iridium Communications by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 32,269 shares of the technology company’s stock worth $1,468,000 after buying an additional 272 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Iridium Communications by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 54,770 shares of the technology company’s stock worth $2,491,000 after buying an additional 280 shares during the last quarter. Covestor Ltd raised its position in Iridium Communications by 83.2% during the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock worth $46,000 after buying an additional 457 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Iridium Communications by 7.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,456 shares of the technology company’s stock worth $294,000 after buying an additional 459 shares during the last quarter. Finally, ORG Partners LLC raised its position in Iridium Communications by 20.6% during the 4th quarter. ORG Partners LLC now owns 3,216 shares of the technology company’s stock worth $132,000 after buying an additional 550 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications Stock Up 2.2 %

Shares of Iridium Communications stock opened at $28.74 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. Iridium Communications has a 1 year low of $24.14 and a 1 year high of $68.34. The firm’s 50-day moving average is $27.51 and its two-hundred day moving average is $34.68. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 136.86 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The business had revenue of $203.80 million for the quarter, compared to analysts’ expectations of $193.84 million. During the same period last year, the business earned $0.08 EPS. The company’s revenue was down .7% compared to the same quarter last year. As a group, research analysts expect that Iridium Communications will post 0.72 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, March 14th. Iridium Communications’s payout ratio is currently 247.62%.

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.