Iridium Communications (NASDAQ:IRDM) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, May 31st.
A number of other brokerages have also weighed in on IRDM. BidaskClub raised Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 24th. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a report on Thursday, April 26th. TheStreet lowered Iridium Communications from a “b” rating to a “c+” rating in a report on Tuesday, May 15th. Finally, BWS Financial initiated coverage on Iridium Communications in a report on Wednesday, May 9th. They set a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Iridium Communications has an average rating of “Buy” and an average target price of $15.25.
Iridium Communications traded up $0.55, reaching $17.85, during midday trading on Thursday, Marketbeat reports. The company’s stock had a trading volume of 2,048,000 shares, compared to its average volume of 936,654. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.58 and a current ratio of 2.68. Iridium Communications has a 52-week low of $9.68 and a 52-week high of $17.95. The stock has a market cap of $1.74 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 29.63 and a beta of 1.86.
Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, April 26th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $119.10 million for the quarter, compared to analyst estimates of $111.60 million. Iridium Communications had a return on equity of 5.19% and a net margin of 44.81%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. sell-side analysts predict that Iridium Communications will post 0.11 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its holdings in Iridium Communications by 4.9% during the fourth quarter. Alliancebernstein L.P. now owns 105,500 shares of the technology company’s stock worth $1,245,000 after acquiring an additional 4,960 shares during the period. Princeton Portfolio Strategies Group LLC boosted its position in Iridium Communications by 28.3% during the first quarter. Princeton Portfolio Strategies Group LLC now owns 25,260 shares of the technology company’s stock worth $284,000 after purchasing an additional 5,570 shares in the last quarter. Aperio Group LLC boosted its position in Iridium Communications by 12.9% during the fourth quarter. Aperio Group LLC now owns 54,603 shares of the technology company’s stock worth $644,000 after purchasing an additional 6,231 shares in the last quarter. Swiss National Bank boosted its position in Iridium Communications by 5.2% during the fourth quarter. Swiss National Bank now owns 141,400 shares of the technology company’s stock worth $1,669,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Iridium Communications by 0.3% during the first quarter. Northern Trust Corp now owns 2,246,797 shares of the technology company’s stock worth $25,276,000 after purchasing an additional 7,803 shares in the last quarter. 88.59% of the stock is currently owned by hedge funds and other institutional investors.
Iridium Communications Company Profile
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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