Iridium Communications Inc. (NASDAQ:IRDM) Given Average Rating of “Moderate Buy” by Analysts

Shares of Iridium Communications Inc. (NASDAQ:IRDMGet Free Report) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $44.75.

A number of analysts have recently issued reports on IRDM shares. Barclays lifted their price objective on shares of Iridium Communications from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. BWS Financial reiterated a “neutral” rating and issued a $30.00 target price on shares of Iridium Communications in a research report on Monday, April 22nd.

Check Out Our Latest Analysis on Iridium Communications

Iridium Communications Stock Down 0.7 %

Shares of NASDAQ:IRDM opened at $26.62 on Monday. The firm has a fifty day moving average price of $28.95 and a two-hundred day moving average price of $31.24. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. Iridium Communications has a one year low of $24.14 and a one year high of $62.40. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 126.76 and a beta of 0.68.

Iridium Communications (NASDAQ:IRDMGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The firm had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. During the same period last year, the firm earned $0.08 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that Iridium Communications will post 0.74 EPS for the current fiscal year.

Iridium Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.14 dividend. This is a boost from Iridium Communications’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.10%. Iridium Communications’s payout ratio is presently 266.67%.

Hedge Funds Weigh In On Iridium Communications

Hedge funds have recently modified their holdings of the company. Cullen Investment Group LTD. purchased a new position in shares of Iridium Communications in the fourth quarter valued at about $1,548,000. International Assets Investment Management LLC bought a new stake in shares of Iridium Communications during the 4th quarter valued at about $3,727,000. Nikko Asset Management Americas Inc. boosted its stake in shares of Iridium Communications by 44.9% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,743,482 shares of the technology company’s stock valued at $71,762,000 after purchasing an additional 539,909 shares in the last quarter. Silver Heights Capital Management Inc boosted its stake in shares of Iridium Communications by 8.8% during the 4th quarter. Silver Heights Capital Management Inc now owns 2,656,227 shares of the technology company’s stock valued at $109,330,000 after purchasing an additional 214,508 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Iridium Communications by 250.1% during the 4th quarter. BNP Paribas Financial Markets now owns 122,906 shares of the technology company’s stock valued at $5,059,000 after purchasing an additional 87,802 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

About Iridium Communications

(Get Free Report

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.

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Analyst Recommendations for Iridium Communications (NASDAQ:IRDM)

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