Iridium Communications Inc (NASDAQ:IRDM) Given Consensus Rating of “Hold” by Analysts

Iridium Communications Inc (NASDAQ:IRDM) has earned an average rating of “Hold” from the six analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $28.80.

A number of analysts have issued reports on IRDM shares. New Street Research started coverage on shares of Iridium Communications in a report on Thursday, May 14th. They issued a “neutral” rating and a $40.00 price target on the stock. Morgan Stanley lifted their price target on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Weiss Ratings upgraded shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays lifted their price target on shares of Iridium Communications from $25.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, BWS Financial restated a “sell” rating and issued a $16.00 target price on shares of Iridium Communications in a report on Monday, April 27th.

Iridium Communications Stock Performance

Shares of NASDAQ IRDM opened at $43.57 on Friday. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85. The company has a market cap of $4.61 billion, a P/E ratio of 44.01, a P/E/G ratio of 2.96 and a beta of 0.79. The firm’s fifty day moving average is $34.41 and its two-hundred day moving average is $24.51. Iridium Communications has a 52-week low of $15.65 and a 52-week high of $44.92.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, April 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). The company had revenue of $219.06 million during the quarter, compared to the consensus estimate of $218.39 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, analysts anticipate that Iridium Communications will post 1.04 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Iridium Communications’s dividend payout ratio (DPR) is presently 60.61%.

Insider Activity at Iridium Communications

In related news, CAO Timothy Kapalka sold 3,790 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total value of $117,490.00. Following the completion of the transaction, the chief accounting officer owned 47,764 shares of the company’s stock, valued at approximately $1,480,684. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd lifted its holdings in shares of Iridium Communications by 2,459.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 345,226 shares of the technology company’s stock valued at $6,028,000 after acquiring an additional 331,738 shares during the last quarter. Silver Heights Capital Management Inc lifted its holdings in shares of Iridium Communications by 22.7% in the 3rd quarter. Silver Heights Capital Management Inc now owns 5,189,703 shares of the technology company’s stock valued at $90,612,000 after acquiring an additional 961,440 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Iridium Communications by 323.8% in the 3rd quarter. Citigroup Inc. now owns 310,797 shares of the technology company’s stock valued at $5,427,000 after acquiring an additional 237,456 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Iridium Communications by 86.4% in the 3rd quarter. Penserra Capital Management LLC now owns 776,576 shares of the technology company’s stock valued at $13,558,000 after acquiring an additional 360,015 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Iridium Communications by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 10,157,227 shares of the technology company’s stock valued at $176,533,000 after purchasing an additional 677,258 shares during the last quarter. Institutional investors own 84.36% of the company’s stock.

Iridium Communications Company Profile

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.