Cantor Fitzgerald Has Negative View of IRDM FY2025 Earnings

Iridium Communications Inc. (NASDAQ:IRDM - Free Report) - Equities research analysts at Cantor Fitzgerald cut their FY2025 earnings per share estimates for Iridium Communications in a research report issued to clients and investors on Tuesday, April 22nd. Cantor Fitzgerald analyst C. Canfield now expects that the technology company will post earnings of $0.79 per share for the year, down from their prior forecast of $0.84. Cantor Fitzgerald currently has a "Overweight" rating and a $40.00 price target on the stock. The consensus estimate for Iridium Communications' current full-year earnings is $0.89 per share.

A number of other research firms also recently weighed in on IRDM. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. StockNews.com cut Iridium Communications from a "buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Barclays dropped their price objective on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Finally, BWS Financial decreased their target price on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.33.

Iridium Communications Stock Up 3.3 %

IRDM traded up $0.77 during trading on Wednesday, hitting $23.93. The company had a trading volume of 1,081,049 shares, compared to its average volume of 1,132,538. The company has a market capitalization of $2.59 billion, a PE ratio of 25.22, a PEG ratio of 1.28 and a beta of 0.66. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. Iridium Communications has a one year low of $19.91 and a one year high of $35.85. The firm's 50-day moving average price is $27.20 and its 200 day moving average price is $28.67.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same quarter in the prior year, the firm posted $0.17 earnings per share.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications's payout ratio is 52.83%.

Institutional Trading of Iridium Communications

Several institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Iridium Communications in the fourth quarter valued at about $32,000. SBI Securities Co. Ltd. acquired a new position in shares of Iridium Communications during the 4th quarter worth approximately $37,000. UMB Bank n.a. increased its holdings in shares of Iridium Communications by 129.8% during the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock worth $38,000 after purchasing an additional 779 shares during the period. Pinnacle Holdings LLC raised its position in shares of Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock valued at $44,000 after buying an additional 477 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock valued at $63,000 after buying an additional 357 shares during the period. 84.36% of the stock is currently owned by institutional investors.

Iridium Communications Company Profile

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.