Iridium Communications (IRDM) Stock Price, News & Analysis

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last year. There are currently 2 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" IRDM shares.
View IRDM analyst ratings or view top-rated stocks.

6 Wall Street research analysts have issued 1-year price targets for Iridium Communications' stock. Their IRDM share price targets range from $30.00 to $72.00. On average, they predict the company's share price to reach $49.80 in the next twelve months. This suggests a possible upside of 81.8% from the stock's current price.
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Iridium Communications' stock was trading at $41.16 at the beginning of 2024. Since then, IRDM stock has decreased by 33.4% and is now trading at $27.40.
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Iridium Communications saw a increase in short interest in March. As of March 31st, there was short interest totaling 3,590,000 shares, an increase of 5.6% from the March 15th total of 3,400,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the short-interest ratio is presently 3.2 days. Currently, 3.3% of the company's stock are sold short.
View Iridium Communications' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 23rd 2024.
View our IRDM earnings forecast.

Iridium Communications Inc. (NASDAQ:IRDM) issued its earnings results on Thursday, April, 18th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The technology company earned $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a trailing twelve-month return on equity of 1.58% and a net margin of 1.95%. Iridium Communications's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the company posted $0.08 EPS.

Iridium Communications announced a quarterly dividend on Friday, February 2nd. Investors of record on Friday, March 15th will be given a dividend of $0.13 per share on Friday, March 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, March 14th.
Read our dividend analysis for IRDM.

Iridium Communications (NASDAQ:IRDM) pays an annual dividend of $0.52 per share and currently has a dividend yield of 2.10%. The dividend payout ratio is 400.00%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, IRDM will have a dividend payout ratio of 70.27% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for IRDM.

ETFs with the largest weight of Iridium Communications (NASDAQ:IRDM) stock in their portfolio include ARK Space Exploration & Innovation ETF (ARKX), ARK Autonomous Technology & Robotics ETF (ARKQ), Procure Space ETF (UFO), Pacer Data & Infrastructure Real Estate ETF (SRVR), Invesco S&P 500 Equal Weight Communication Services ETF (EWCO), SPDR S&P Telecom ETF (XTL), iShares U.S. Telecommunications ETF (IYZ) and SPDR S&P Kensho Final Frontiers ETF (ROKT).

Iridium Communications announced that its board has authorized a share repurchase plan on Thursday, July 27th 2023, which authorizes the company to repurchase $400,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

48 employees have rated Iridium Communications Chief Executive Officer Matt Desch on Glassdoor.com. Matt Desch has an approval rating of 70% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Iridium Communications investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Verizon Communications (VZ), Block (SQ), Bank of America (BAC), AT&T (T), General Electric (GE) and Boeing (BA).

Iridium Communications' stock is owned by many different retail and institutional investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (1.71%), Cullen Investment Group LTD. (0.03%), State of Michigan Retirement System (0.02%), Oak Thistle LLC (0.02%), Dudley & Shanley Inc. (0.01%) and Counterpoint Mutual Funds LLC (0.01%). Insiders that own company stock include A B Krongard, Barry West, Bryan J Hartin, Henrik O Schliemann, Kathleen A Morgan, Leon Anthony Frazier, Matthew J Desch, Parker William Rush, Robert H Niehaus, Scott Scheimreif, Steven B Pfeiffer, Suzanne E Mcbride, Suzanne E Mcbride, Thomas C Canfield, Thomas Fitzpatrick and Timothy Kapalka.
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Shares of IRDM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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