Cantor Fitzgerald Has Positive View of IRDM FY2025 Earnings

Iridium Communications Inc (NASDAQ:IRDM - Free Report) - Investment analysts at Cantor Fitzgerald lifted their FY2025 earnings estimates for Iridium Communications in a report issued on Thursday, July 17th. Cantor Fitzgerald analyst C. Canfield now forecasts that the technology company will post earnings of $0.88 per share for the year, up from their previous estimate of $0.79. The consensus estimate for Iridium Communications' current full-year earnings is $0.89 per share. Cantor Fitzgerald also issued estimates for Iridium Communications' FY2026 earnings at $0.89 EPS.

A number of other research analysts have also recently weighed in on IRDM. BWS Financial cut their price objective 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. Oppenheimer assumed coverage on shares of Iridium Communications in a research report on Monday, May 5th. They set an "outperform" rating and a $34.00 price objective on the stock. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Iridium Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

Iridium Communications Trading Down 0.1%

IRDM stock traded down $0.04 during mid-day trading on Friday, reaching $32.07. 150,667 shares of the stock traded hands, compared to its average volume of 1,179,453. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99. Iridium Communications has a one year low of $19.91 and a one year high of $35.85. The stock has a market capitalization of $3.47 billion, a PE ratio of 30.26, a PEG ratio of 1.06 and a beta of 0.79. The business has a 50-day moving average price of $28.38 and a two-hundred day moving average price of $27.95.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share for the quarter, topping 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 company had revenue of $214.88 million for the quarter, compared to analysts' expectations of $211.78 million. During the same quarter in the previous year, the business posted $0.17 earnings per share.

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 paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, June 13th. Iridium Communications's dividend payout ratio is currently 52.83%.

Institutional Trading of Iridium Communications

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in shares of Iridium Communications by 9.1% during the second quarter. Janney Montgomery Scott LLC now owns 29,041 shares of the technology company's stock valued at $876,000 after purchasing an additional 2,414 shares during the period. Wealth Effects LLC lifted its stake in Iridium Communications by 52.4% in the second quarter. Wealth Effects LLC now owns 22,107 shares of the technology company's stock worth $667,000 after acquiring an additional 7,602 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Iridium Communications in the second quarter worth about $350,000. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Iridium Communications in the second quarter worth about $156,000. Finally, Diversified Trust Co purchased a new stake in Iridium Communications in the second quarter worth about $426,000. 84.36% of the stock is owned by hedge funds and other institutional investors.

About Iridium Communications

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.

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