Iridium Communications (IRDM) Stock Price, News & Analysis

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last twelve months. There are currently 2 hold ratings, 3 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" IRDM shares.
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6 equities research analysts have issued 12 month price targets for Iridium Communications' stock. Their IRDM share price targets range from $30.00 to $72.00. On average, they anticipate the company's share price to reach $49.80 in the next twelve months. This suggests a possible upside of 91.1% from the stock's current price.
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Iridium Communications' stock was trading at $41.16 on January 1st, 2024. Since then, IRDM stock has decreased by 36.7% and is now trading at $26.06.
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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 currently 3.2 days. Approximately 3.3% of the shares of the company are sold short.
View Iridium Communications' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, April 18th 2024.
View our IRDM earnings forecast.

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

Iridium Communications announced a quarterly dividend on Friday, February 2nd. Investors of record on Friday, March 15th will be paid a dividend of $0.13 per share on Friday, March 29th. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend 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), Invesco S&P 500 Equal Weight Communication Services ETF (RSPC), SPDR S&P Telecom ETF (XTL) and iShares U.S. Telecommunications ETF (IYZ).

Iridium Communications announced that its Board of Directors has approved a stock repurchase program on Thursday, July 27th 2023, which allows the company to repurchase $400,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership 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 a number of institutional and retail investors. Top institutional investors include Cullen Investment Group LTD. (0.03%), Oak Thistle LLC (0.02%) 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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