Iridium Communications Inc (IRDM) To Go Ex-Dividend on March 16th

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Thursday, March 5th. Investors of record on Monday, March 16th will be paid a dividend of 0.15 per share by the technology company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, March 16th.

Iridium Communications has a payout ratio of 45.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Iridium Communications to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 48.4%.

Iridium Communications Price Performance

Iridium Communications stock opened at $24.01 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. The firm has a 50-day moving average of $20.79 and a two-hundred day moving average of $19.49. Iridium Communications has a 1 year low of $15.65 and a 1 year high of $33.34.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The business had revenue of $212.94 million for the quarter, compared to analyst estimates of $219.14 million. During the same period last year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that Iridium Communications will post 0.89 earnings per share for the current year.

Institutional Investors Weigh In On Iridium Communications

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in shares of Iridium Communications by 107.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after purchasing an additional 741 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Iridium Communications by 184.7% in the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after buying an additional 977 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Iridium Communications by 392.8% in the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after acquiring an additional 1,202 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Iridium Communications in the fourth quarter worth about $27,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Iridium Communications during the third quarter worth about $32,000. 84.36% of the stock is currently owned by institutional investors and hedge funds.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.