Iridium Communications Inc (NASDAQ:IRDM) Given Consensus Rating of “Hold” by Brokerages

Iridium Communications Inc (NASDAQ:IRDM) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.40.

Several research analysts recently commented on the company. BWS Financial reiterated a “sell” rating and issued a $16.00 price target on shares of Iridium Communications in a research note on Tuesday, February 17th. Morgan Stanley upped their target price on 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, Weiss Ratings reissued a “sell (d+)” rating on shares of Iridium Communications in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On Iridium Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRDM. Quadrant Capital Group LLC raised its stake in shares of Iridium Communications by 107.5% in the 4th 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. Hantz Financial Services Inc. raised its position in Iridium Communications by 184.7% in the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after acquiring an additional 977 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Iridium Communications by 392.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Iridium Communications during the 4th quarter valued at about $27,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Iridium Communications during the 3rd quarter valued at about $32,000. 84.36% of the stock is owned by institutional investors.

Iridium Communications Trading Up 6.5%

IRDM opened at $23.95 on Friday. The firm’s 50 day moving average is $20.12 and its 200-day moving average is $19.48. The firm has a market capitalization of $2.51 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.64 and a beta of 0.61. Iridium Communications has a 52-week low of $15.65 and a 52-week high of $33.34. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 3.80.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $212.94 million for the quarter, compared to analyst estimates of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Analysts expect that Iridium Communications will post 0.89 EPS 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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, December 15th. Iridium Communications’s dividend payout ratio (DPR) is currently 56.60%.

About Iridium Communications

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.