Iridium Communications (IRDM) Expected to Announce Earnings on Tuesday

Iridium Communications (NASDAQ:IRDM) will likely be releasing its earnings data before the market opens on Tuesday, April 22nd. Analysts expect Iridium Communications to post earnings of $0.24 per share and revenue of $211.78 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The firm had revenue of $212.99 million for the quarter, compared to analysts’ expectations of $203.78 million. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Price Performance

Iridium Communications stock opened at $24.32 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The firm has a market capitalization of $2.64 billion, a P/E ratio of 25.60, a PEG ratio of 1.28 and a beta of 0.66. The firm has a fifty day moving average of $28.40 and a 200-day moving average of $29.12. Iridium Communications has a 52-week low of $22.18 and a 52-week high of $35.85.

Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.30%. Iridium Communications’s dividend payout ratio is currently 58.95%.

Wall Street Analysts Forecast Growth

IRDM has been the topic of several analyst reports. Barclays reduced their target price on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Sunday, April 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price target on the stock.

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.