Iridium Communications (NASDAQ:IRDM) Receives Sell Rating from BWS Financial

BWS Financial reissued their sell rating on shares of Iridium Communications (NASDAQ:IRDM) in a report released on Monday morning,Benzinga reports. BWS Financial currently has a $16.00 price objective on the technology company’s stock.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Barclays increased their target price on shares of Iridium Communications from $25.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Morgan Stanley increased their target price on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 18th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Iridium Communications in a research report on Friday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Iridium Communications has an average rating of “Hold” and an average target price of $27.60.

Iridium Communications Price Performance

Shares of IRDM opened at $37.40 on Monday. Iridium Communications has a twelve month low of $15.65 and a twelve month high of $44.36. The firm’s fifty day simple moving average is $29.55 and its 200-day simple moving average is $22.29. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.66 and a beta of 0.48. The company has a current ratio of 2.85, a quick ratio of 2.21 and a debt-to-equity ratio of 3.74.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, April 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The firm had revenue of $219.06 million during the quarter, compared to analyst estimates of $218.39 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. Iridium Communications’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts forecast that Iridium Communications will post 1.08 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, March 16th. Iridium Communications’s dividend payout ratio (DPR) is 60.61%.

Insider Activity at Iridium Communications

In related news, CAO Timothy Kapalka sold 3,790 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total value of $117,490.00. Following the transaction, the chief accounting officer directly owned 47,764 shares of the company’s stock, valued at $1,480,684. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in Iridium Communications by 107.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after purchasing an additional 741 shares during the last quarter. Hantz Financial Services Inc. grew its position in Iridium Communications by 184.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after purchasing an additional 977 shares during the last quarter. Larson Financial Group LLC grew its position in Iridium Communications by 392.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Iridium Communications during the 4th quarter worth $27,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Iridium Communications during the 3rd quarter worth $32,000. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.