Iridium Communications (NASDAQ:IRDM) Rating Increased to Buy at New Street Research

New Street Research upgraded shares of Iridium Communications (NASDAQ:IRDM) from a neutral rating to a buy rating in a report released on Wednesday, Marketbeat.com reports.

Other research analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on Iridium Communications from $26.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. William Blair cut shares of Iridium Communications from an “outperform” rating to a “hold” rating in a research note on Monday, June 29th. BWS Financial reaffirmed a “sell” rating and set a $16.00 price target on shares of Iridium Communications in a report on Monday, April 27th. Oppenheimer upped their price target on shares of Iridium Communications from $48.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Raymond James Financial reissued a “market perform” rating on shares of Iridium Communications in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Iridium Communications presently has an average rating of “Hold” and an average price target of $38.67.

Iridium Communications Price Performance

NASDAQ IRDM opened at $46.86 on Wednesday. The company has a market capitalization of $4.95 billion, a PE ratio of 47.33, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85. The business’s fifty day moving average is $47.84 and its 200 day moving average is $34.58. Iridium Communications has a fifty-two week low of $15.65 and a fifty-two week high of $57.18.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). The company had revenue of $225.24 million for the quarter, compared to the consensus estimate of $220.32 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. Sell-side analysts predict that Iridium Communications will post 1.02 earnings per share for the current year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. Iridium Communications’s dividend payout ratio is 60.61%.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its stake in Iridium Communications by 1,750.0% in the 1st quarter. Root Financial Partners LLC now owns 1,332 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,260 shares during the period. Quadrant Capital Group LLC grew its holdings 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 valued at $25,000 after buying an additional 741 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Iridium Communications during the fourth quarter valued at approximately $27,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Iridium Communications in the third quarter worth $32,000. Institutional investors own 84.36% of the company’s stock.

Trending Headlines about Iridium Communications

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: New Street Research upgraded Iridium from “neutral” to “buy”, which likely supported the stock by signaling improved confidence in the company’s outlook. Tickerreport.com
• Positive Sentiment: Iridium reported revenue of $225.24 million, which came in above analyst expectations and was up 3.8% year over year, showing continued demand for its satellite services. Iridium Announces Second Quarter 2026 Results
• Neutral Sentiment: The company also said it is making progress on strategic initiatives, including its pending acquisition by Rocket Lab, which is expected to close in mid-2027. Iridium Announces Second Quarter 2026 Results
• Negative Sentiment: Quarterly earnings missed Wall Street estimates, with EPS reported at $0.09 versus the $0.26 consensus, and even Zacks highlighted that results lagged estimates. Iridium Communications (IRDM) Q2 Earnings Lag Estimates

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.