Research Analysts Issue Forecasts for IRDM FY2025 Earnings

Iridium Communications Inc. (NASDAQ:IRDM) – Equities research analysts at Cantor Fitzgerald decreased their FY2025 earnings estimates for shares of Iridium Communications in a research note issued on Tuesday, April 22nd. Cantor Fitzgerald analyst C. Canfield now expects that the technology company will earn $0.79 per share for the year, down from their prior estimate of $0.84. Cantor Fitzgerald has a “Overweight” rating and a $40.00 price target on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.89 per share.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same period in the previous year, the firm posted $0.17 EPS.

Several other analysts have also recently commented on the stock. Barclays lowered their target price on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. BWS Financial decreased their price target on Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, William Blair upgraded shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

Iridium Communications Trading Down 0.2 %

Iridium Communications stock opened at $21.57 on Wednesday. The stock has a market cap of $2.35 billion, a PE ratio of 22.71, a P/E/G ratio of 1.28 and a beta of 0.66. Iridium Communications has a 52 week low of $19.91 and a 52 week high of $35.85. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. The stock has a 50-day moving average price of $27.56 and a 200 day moving average price of $28.77.

Hedge Funds Weigh In On Iridium Communications

Several hedge funds and other institutional investors have recently bought and sold shares of IRDM. Plato Investment Management Ltd purchased a new position in shares of Iridium Communications in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new position in Iridium Communications in the fourth quarter valued at about $37,000. UMB Bank n.a. raised its position in shares of Iridium Communications by 129.8% in the 1st quarter. UMB Bank n.a. now owns 1,379 shares of the technology company’s stock valued at $38,000 after purchasing an additional 779 shares in the last quarter. Pinnacle Holdings LLC boosted its stake in shares of Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock valued at $44,000 after buying an additional 477 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after buying an additional 357 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.14 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.60%. Iridium Communications’s dividend payout ratio (DPR) is currently 58.95%.

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.