IRDM FY2025 EPS Estimate Boosted by Cantor Fitzgerald

Iridium Communications Inc (NASDAQ:IRDM) – Stock analysts at Cantor Fitzgerald boosted their FY2025 earnings estimates for Iridium Communications in a research report issued to clients and investors on Thursday, July 17th. Cantor Fitzgerald analyst C. Canfield now forecasts that the technology company will post earnings of $0.88 per share for the year, up from their previous estimate of $0.79. The consensus estimate for Iridium Communications’ current full-year earnings is $0.89 per share. Cantor Fitzgerald also issued estimates for Iridium Communications’ FY2026 earnings at $0.89 EPS.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. The firm had revenue of $214.88 million during the quarter, compared to analysts’ expectations of $211.78 million. During the same period in the previous year, the company earned $0.17 earnings per share.

Other research analysts have also recently issued reports about the stock. William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 22nd. Wall Street Zen cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Oppenheimer began coverage on shares of Iridium Communications in a research report on Monday, May 5th. They set an “outperform” rating and a $34.00 target price for the company. Finally, BWS Financial cut their target price on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.25.

Iridium Communications Stock Down 0.1%

IRDM opened at $32.08 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 3.43. The firm has a 50 day moving average price of $28.49 and a 200-day moving average price of $27.98. Iridium Communications has a twelve month low of $19.91 and a twelve month high of $35.85. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.08 and a beta of 0.79.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. Iridium Communications’s payout ratio is currently 52.83%.

Hedge Funds Weigh In On Iridium Communications

A number of hedge funds have recently modified their holdings of IRDM. ARK Investment Management LLC boosted its position in shares of Iridium Communications by 95.1% in the first quarter. ARK Investment Management LLC now owns 4,891,677 shares of the technology company’s stock worth $133,641,000 after purchasing an additional 2,383,962 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Iridium Communications by 37.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,893,145 shares of the technology company’s stock worth $106,361,000 after purchasing an additional 1,064,093 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of Iridium Communications by 37.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,889,045 shares of the technology company’s stock worth $106,210,000 after purchasing an additional 1,061,465 shares during the period. Norges Bank bought a new position in shares of Iridium Communications in the fourth quarter worth approximately $28,240,000. Finally, American Century Companies Inc. boosted its position in shares of Iridium Communications by 94.2% in the fourth quarter. American Century Companies Inc. now owns 1,735,842 shares of the technology company’s stock worth $50,374,000 after purchasing an additional 841,951 shares during the period. 84.36% of the stock is currently owned by institutional investors.

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.