Zacks Research Issues Pessimistic Estimate for IRDM Earnings

Iridium Communications Inc. (NASDAQ:IRDM) – Equities research analysts at Zacks Research dropped their Q4 2024 earnings estimates for shares of Iridium Communications in a report issued on Thursday, November 7th. Zacks Research analyst R. Department now forecasts that the technology company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.20. The consensus estimate for Iridium Communications’ current full-year earnings is $0.80 per share. Zacks Research also issued estimates for Iridium Communications’ Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.23 EPS, Q2 2026 earnings at $0.24 EPS, Q3 2026 earnings at $0.31 EPS and FY2026 earnings at $1.10 EPS.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $212.77 million during the quarter, compared to analyst estimates of $205.68 million. Iridium Communications had a return on equity of 14.34% and a net margin of 14.09%.

A number of other research firms have also commented on IRDM. BWS Financial reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Iridium Communications in a research note on Monday, October 21st. Barclays lifted their price objective on shares of Iridium Communications from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Iridium Communications Trading Up 2.8 %

Shares of IRDM stock opened at $30.37 on Monday. The stock has a 50-day simple moving average of $29.26 and a 200 day simple moving average of $28.36. The stock has a market capitalization of $3.46 billion, a P/E ratio of 32.31 and a beta of 0.65. Iridium Communications has a fifty-two week low of $24.14 and a fifty-two week high of $41.66. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68.

Institutional Investors Weigh In On Iridium Communications

A number of hedge funds have recently added to or reduced their stakes in IRDM. Allspring Global Investments Holdings LLC increased its position in shares of Iridium Communications by 7,684.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,012 shares of the technology company’s stock worth $27,000 after acquiring an additional 999 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Iridium Communications during the 1st quarter valued at approximately $29,000. Mather Group LLC. purchased a new stake in Iridium Communications in the second quarter worth $32,000. Blue Trust Inc. increased its holdings in Iridium Communications by 109.7% in the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the technology company’s stock worth $39,000 after acquiring an additional 780 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Iridium Communications in the second quarter valued at approximately $45,000. 84.36% of the stock is currently owned by institutional investors.

Insider Activity at Iridium Communications

In other Iridium Communications news, Director Robert H. Niehaus sold 38,355 shares of Iridium Communications stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $29.39, for a total value of $1,127,253.45. Following the sale, the director now directly owns 254,824 shares in the company, valued at approximately $7,489,277.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Suzanne E. Mcbride sold 4,420 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $29.48, for a total transaction of $130,301.60. Following the sale, the insider now owns 182,797 shares in the company, valued at $5,388,855.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert H. Niehaus sold 38,355 shares of Iridium Communications stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.39, for a total transaction of $1,127,253.45. Following the sale, the director now owns 254,824 shares in the company, valued at approximately $7,489,277.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Iridium Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, September 13th. Iridium Communications’s dividend payout ratio (DPR) is 59.58%.

Iridium Communications declared that its board has approved a share repurchase plan on Thursday, September 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Iridium Communications

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.