Iridium Communications (NASDAQ:IRDM) Given Sell Rating at BWS Financial

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

IRDM has been the topic of several other reports. Morgan Stanley restated an “equal weight” rating and set a $24.00 target price (down from $37.00) on shares of Iridium Communications in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Iridium Communications in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Iridium Communications presently has an average rating of “Hold” and an average target price of $25.00.

Iridium Communications Trading Up 1.6%

NASDAQ:IRDM opened at $23.53 on Tuesday. Iridium Communications has a 1 year low of $15.65 and a 1 year high of $34.45. The company has a debt-to-equity ratio of 3.80, a quick ratio of 1.82 and a current ratio of 2.48. The stock has a fifty day moving average price of $19.22 and a two-hundred day moving average price of $19.50. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.38 and a beta of 0.61.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, February 12th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $212.94 million for the quarter, compared to analysts’ expectations of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, sell-side analysts anticipate that Iridium Communications will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, December 15th. Iridium Communications’s payout ratio is currently 56.60%.

Hedge Funds Weigh In On Iridium Communications

A number of institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its stake in shares of Iridium Communications by 3.1% during the second quarter. Quantinno Capital Management LP now owns 15,199 shares of the technology company’s stock valued at $459,000 after acquiring an additional 461 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Iridium Communications by 0.7% during the 2nd quarter. Intech Investment Management LLC now owns 66,921 shares of the technology company’s stock worth $2,019,000 after purchasing an additional 473 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Iridium Communications by 11.2% during the fourth quarter. Allworth Financial LP now owns 5,677 shares of the technology company’s stock worth $99,000 after buying an additional 572 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Iridium Communications by 107.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after buying an additional 741 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Iridium Communications by 36.2% in the third quarter. Jones Financial Companies Lllp now owns 3,053 shares of the technology company’s stock valued at $54,000 after buying an additional 812 shares during the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

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.