Equities analysts expect that Iridium Communications (NASDAQ:IRDM) will announce earnings per share (EPS) of $0.04 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Iridium Communications’ earnings, with estimates ranging from ($0.12) to $0.19. Iridium Communications posted earnings of $0.30 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 86.7%. The firm is expected to report its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Iridium Communications will report full year earnings of $0.07 per share for the current fiscal year, with EPS estimates ranging from ($0.52) to $0.79. For the next year, analysts anticipate that the firm will post earnings of $0.15 per share, with EPS estimates ranging from ($0.46) to $0.72. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.24). Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. The business had revenue of $115.50 million during the quarter, compared to analyst estimates of $111.71 million. During the same period in the previous year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis.
IRDM has been the topic of several research analyst reports. BidaskClub lowered Iridium Communications from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. ValuEngine raised Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded Iridium Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Iridium Communications currently has a consensus rating of “Hold” and a consensus price target of $13.00.
IRDM traded up $0.10 during trading on Friday, hitting $12.25. The company’s stock had a trading volume of 658,958 shares, compared to its average volume of 730,858. The company has a current ratio of 1.92, a quick ratio of 1.83 and a debt-to-equity ratio of 1.01. Iridium Communications has a twelve month low of $9.68 and a twelve month high of $13.25. The firm has a market cap of $1,321.36, a P/E ratio of 17.46, a PEG ratio of 33.38 and a beta of 1.82.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in shares of Iridium Communications by 4.9% in the fourth quarter. Alliancebernstein L.P. now owns 105,500 shares of the technology company’s stock valued at $1,245,000 after acquiring an additional 4,960 shares in the last quarter. Aperio Group LLC lifted its position in shares of Iridium Communications by 12.9% in the fourth quarter. Aperio Group LLC now owns 54,603 shares of the technology company’s stock valued at $644,000 after acquiring an additional 6,231 shares in the last quarter. Swiss National Bank lifted its position in shares of Iridium Communications by 5.2% in the fourth quarter. Swiss National Bank now owns 141,400 shares of the technology company’s stock valued at $1,669,000 after acquiring an additional 7,000 shares in the last quarter. Elkfork Partners LLC purchased a new position in shares of Iridium Communications in the fourth quarter valued at approximately $108,000. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Iridium Communications by 1.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 594,113 shares of the technology company’s stock valued at $7,011,000 after acquiring an additional 9,582 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.
About Iridium Communications
Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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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