Iridium Communications (IRDM) Set to Announce Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) will release its earnings data before the market opens on Thursday, April 18th. Analysts expect Iridium Communications to post earnings of $0.16 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.27. The business had revenue of $194.74 million during the quarter, compared to analyst estimates of $192.13 million. Iridium Communications had a return on equity of 1.58% and a net margin of 1.95%. Iridium Communications’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Stock Down 0.1 %

Shares of NASDAQ:IRDM opened at $24.65 on Tuesday. The company has a market capitalization of $3.02 billion, a PE ratio of 189.62 and a beta of 0.85. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.06 and a quick ratio of 1.37. The business has a fifty day moving average price of $28.35 and a two-hundred day moving average price of $35.33. Iridium Communications has a 1 year low of $24.17 and a 1 year high of $68.34.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 2.11%. Iridium Communications’s dividend payout ratio (DPR) is presently 400.00%.

Hedge Funds Weigh In On Iridium Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Iridium Communications by 0.5% in the 1st quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock worth $634,635,000 after buying an additional 71,031 shares in the last quarter. Vanguard Group Inc. grew its stake in Iridium Communications by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 12,774,070 shares of the technology company’s stock worth $566,786,000 after buying an additional 213,935 shares in the last quarter. Capital International Investors grew its stake in Iridium Communications by 0.4% in the 1st quarter. Capital International Investors now owns 7,722,754 shares of the technology company’s stock worth $311,381,000 after buying an additional 26,978 shares in the last quarter. State Street Corp boosted its stake in shares of Iridium Communications by 2.2% in the 3rd quarter. State Street Corp now owns 5,120,966 shares of the technology company’s stock valued at $227,217,000 after purchasing an additional 110,188 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Iridium Communications by 7.6% in the 1st quarter. Invesco Ltd. now owns 2,756,866 shares of the technology company’s stock valued at $111,157,000 after purchasing an additional 195,093 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Analyst Upgrades and Downgrades

IRDM has been the subject of a number of recent analyst reports. TheStreet upgraded Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. William Blair downgraded Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Raymond James cut their price target on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a research note on Friday, February 16th. BWS Financial downgraded Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, February 16th. Finally, Barclays cut their price target on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.80.

About Iridium Communications

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.