Iridium Communications (NASDAQ:IRDM) Stock Rating Reaffirmed by BWS Financial

Iridium Communications (NASDAQ:IRDM)‘s stock had its “neutral” rating reaffirmed by equities researchers at BWS Financial in a note issued to investors on Monday, Benzinga reports. They currently have a $30.00 price target on the technology company’s stock. BWS Financial’s price target indicates a potential upside of 4.38% from the company’s current price.

Several other brokerages also recently issued reports on IRDM. Barclays reduced their price objective 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. TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Raymond James reduced their price objective 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. Finally, William Blair downgraded Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Three research 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 stock. According to MarketBeat.com, Iridium Communications presently has an average rating of “Moderate Buy” and an average target price of $44.25.

Iridium Communications Trading Up 2.2 %

NASDAQ:IRDM opened at $28.74 on Monday. The stock has a fifty day simple moving average of $27.51 and a 200 day simple moving average of $34.68. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 136.86 and a beta of 0.85. The company has a quick ratio of 2.52, a current ratio of 3.33 and a debt-to-equity ratio of 1.86. Iridium Communications has a 1-year low of $24.14 and a 1-year high of $68.34.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. Sell-side analysts forecast that Iridium Communications will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On Iridium Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwest Financial Advisors acquired a new stake in Iridium Communications in the 4th quarter worth approximately $26,000. Allspring Global Investments Holdings LLC acquired a new stake in Iridium Communications in the 4th quarter worth approximately $41,000. Covestor Ltd lifted its holdings in Iridium Communications by 83.2% in the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock worth $46,000 after purchasing an additional 457 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Iridium Communications in the 4th quarter worth approximately $60,000. Finally, Quarry LP lifted its holdings in Iridium Communications by 691.4% in the 4th quarter. Quarry LP now owns 1,939 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,694 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

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.