Iridium Communications Inc (NASDAQ:IRDM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Iridium Communications Inc (NASDAQ:IRDM) have earned an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.25.

Several analysts recently issued reports on the company. Oppenheimer assumed coverage on Iridium Communications in a research note on Monday, May 5th. They issued an “outperform” rating and a $34.00 price target for the company. William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 22nd. BWS Financial lowered their price target on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st.

Iridium Communications Stock Performance

NASDAQ IRDM opened at $32.08 on Friday. The stock has a market cap of $3.47 billion, a PE ratio of 30.26, a P/E/G ratio of 1.08 and a beta of 0.79. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99. The firm has a 50-day moving average of $28.49 and a 200-day moving average of $27.98. Iridium Communications has a 52-week low of $19.91 and a 52-week high of $35.85.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $211.78 million. During the same period in the prior year, the firm earned $0.17 EPS. On average, sell-side analysts anticipate that Iridium Communications will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Friday, June 13th. Iridium Communications’s dividend payout ratio (DPR) is currently 52.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SVB Wealth LLC bought a new stake in Iridium Communications during the first quarter worth $30,000. UMB Bank n.a. grew its position in Iridium Communications by 129.8% in the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company’s stock valued at $38,000 after acquiring an additional 779 shares during the last quarter. Pinnacle Holdings LLC raised its stake in Iridium Communications by 45.4% during the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock worth $44,000 after acquiring an additional 477 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of Iridium Communications in the first quarter worth about $47,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Iridium Communications by 37.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,757 shares of the technology company’s stock valued at $48,000 after purchasing an additional 476 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

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.