Q2 2024 EPS Estimates for Iridium Communications Inc. (NASDAQ:IRDM) Raised by William Blair

Iridium Communications Inc. (NASDAQ:IRDM) – Analysts at William Blair increased their Q2 2024 EPS estimates for Iridium Communications in a note issued to investors on Thursday, April 18th. William Blair analyst L. Dipalma now anticipates that the technology company will post earnings per share of $0.16 for the quarter, up from their prior estimate of $0.13. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.72 per share. William Blair also issued estimates for Iridium Communications’ Q3 2024 earnings at $0.20 EPS and Q4 2024 earnings at $0.20 EPS.

Several other equities analysts have also commented on the stock. Raymond James lowered their price target on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a research report on Friday, February 16th. BWS Financial lowered shares of Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Friday, February 16th. TheStreet upgraded shares of Iridium Communications from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Finally, Barclays reduced their price objective on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.25.

Iridium Communications Stock Performance

Iridium Communications stock opened at $27.40 on Monday. The company has a fifty day moving average price of $27.66 and a two-hundred day moving average price of $34.80. The company has a market cap of $3.35 billion, a PE ratio of 130.48 and a beta of 0.85. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.06 and a quick ratio of 1.37. Iridium Communications has a 12 month low of $24.14 and a 12 month high of $68.34.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a net margin of 3.20% and a return on equity of 2.70%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share.

Institutional Trading of Iridium Communications

Several institutional investors and hedge funds have recently bought and sold shares of IRDM. Rhumbline Advisers raised its holdings in Iridium Communications by 1.1% during the 1st quarter. Rhumbline Advisers now owns 359,276 shares of the technology company’s stock worth $14,486,000 after buying an additional 3,957 shares during the period. BlackRock Inc. increased its holdings in shares of Iridium Communications by 0.5% in the 1st quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock valued at $634,635,000 after purchasing an additional 71,031 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Iridium Communications by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 70,873 shares of the technology company’s stock valued at $2,934,000 after purchasing an additional 4,877 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Iridium Communications by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 69,722 shares of the technology company’s stock valued at $2,811,000 after purchasing an additional 2,353 shares during the period. Finally, Raymond James Trust N.A. increased its holdings in Iridium Communications by 16.6% in the first quarter. Raymond James Trust N.A. now owns 9,943 shares of the technology company’s stock worth $401,000 after buying an additional 1,417 shares during the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s payout ratio is 247.62%.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international 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.