Iridium Communications Inc. (NASDAQ:IRDM – Free Report) – Research analysts at BWS Financial reduced their Q2 2024 earnings per share estimates for Iridium Communications in a report released on Monday, April 22nd. BWS Financial analyst H. Khorsand now expects that the technology company will post earnings of $0.21 per share for the quarter, down from their previous forecast of $0.22. BWS Financial has a “Neutral” rating and a $30.00 price target on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.72 per share. BWS Financial also issued estimates for Iridium Communications’ Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.20 EPS and FY2024 earnings at $0.80 EPS.
Iridium Communications (NASDAQ:IRDM – Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The company had revenue of $203.80 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was down .7% compared to the same quarter last year.
Get Our Latest Analysis on IRDM
Iridium Communications Trading Up 2.2 %
IRDM stock opened at $28.74 on Wednesday. Iridium Communications has a 1-year low of $24.14 and a 1-year high of $68.34. The firm has a market cap of $3.49 billion, a P/E ratio of 136.86 and a beta of 0.85. The business’s 50 day moving average is $27.51 and its 200-day moving average is $34.68. The company has a current ratio of 3.33, a quick ratio of 2.52 and a debt-to-equity ratio of 1.86.
Iridium Communications Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, March 14th. Iridium Communications’s dividend payout ratio (DPR) is currently 247.62%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its stake in Iridium Communications by 2.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 35,600 shares of the technology company’s stock worth $931,000 after buying an additional 800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Iridium Communications by 19.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,089,600 shares of the technology company’s stock worth $54,664,000 after purchasing an additional 346,118 shares in the last quarter. State of Michigan Retirement System increased its holdings in Iridium Communications by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 30,459 shares of the technology company’s stock worth $797,000 after purchasing an additional 700 shares in the last quarter. Oak Thistle LLC bought a new position in Iridium Communications during the 1st quarter worth about $546,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Iridium Communications during the 1st quarter worth about $280,000. Institutional investors and hedge funds own 84.36% of the company’s stock.
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.
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