Iridium Communications Inc (NASDAQ:IRDM) Receives $25.40 Average Target Price from Brokerages

Shares of Iridium Communications Inc (NASDAQ:IRDM) have received a consensus rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $25.40.

IRDM has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Iridium Communications in a research note on Thursday, January 22nd. BWS Financial reaffirmed a “sell” rating and issued a $16.00 target price on shares of Iridium Communications in a report on Tuesday, February 17th. Finally, Morgan Stanley upped their price target on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 18th.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its stake in shares of Iridium Communications by 107.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after purchasing an additional 741 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Iridium Communications by 184.7% during the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after purchasing an additional 977 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,202 shares during the period. Kestra Advisory Services LLC purchased a new position in Iridium Communications in the 4th quarter valued at $27,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Iridium Communications in the 3rd quarter valued at $32,000. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications Price Performance

Shares of IRDM opened at $24.00 on Friday. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82. Iridium Communications has a 1-year low of $15.65 and a 1-year high of $33.34. The stock has a market cap of $2.52 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.70 and a beta of 0.60. The firm has a fifty day moving average price of $20.38 and a 200 day moving average price of $19.43.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $212.94 million for the quarter, compared to analysts’ expectations of $219.14 million. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Iridium Communications will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. Iridium Communications’s dividend payout ratio is 56.60%.

About Iridium Communications

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.