IRDM Stock Gets Reduced EPS Forecast from Zacks Research

Key Points

• Zacks Research cut its Q1 2027 EPS forecast for Iridium Communications to $0.23 from $0.26; it also issued estimates for several quarters through Q3 2028.
• Analyst sentiment is mixed: three analysts rate the stock Buy, four Hold, and one Sell. MarketBeat reports an average rating of Hold and an average price target of $41.20.
• In its latest reported quarter, Iridium posted EPS of $0.98 versus the $0.34 consensus estimate and revenue of $245.73 million, above expectations of $236.30 million.

Iridium Communications Inc (NASDAQ:IRDM - Free Report) - Zacks Research lowered their Q1 2027 earnings per share (EPS) estimates for Iridium Communications in a research report issued on Tuesday, November 10th. Zacks Research analyst Team now expects that the technology company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.26. The consensus estimate for Iridium Communications' current full-year earnings is $0.98 per share. Zacks Research also issued estimates for Iridium Communications' Q2 2027 earnings at $0.24 EPS, Q1 2028 earnings at $0.27 EPS, Q2 2028 earnings at $0.22 EPS and Q3 2028 earnings at $0.29 EPS.

A number of other analysts have also recently issued reports on IRDM. Weiss Ratings upgraded shares of Iridium Communications from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, October 21st. New Street Research upgraded shares of Iridium Communications from a "neutral" rating to a "buy" rating in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $41.20.

Iridium Communications Price Performance

NASDAQ:IRDM opened at $46.13 on Wednesday. Iridium Communications has a one year low of $15.65 and a one year high of $57.18. The company has a market cap of $4.90 billion, a P/E ratio of 30.55, a P/E/G ratio of 3.52 and a beta of 0.87. The firm's fifty day moving average price is $46.42 and its two-hundred day moving average price is $40.43. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.91 and a quick ratio of 0.72.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.64. Iridium Communications had a return on equity of 22.04% and a net margin of 18.06%. The business had revenue of $245.73 million for the quarter, compared to analysts' expectations of $236.30 million. During the same quarter in the prior year, the business earned $0.35 EPS.

Hedge Funds Weigh In On Iridium Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRDM. Private Advisor Group LLC bought a new stake in Iridium Communications during the third quarter worth about $356,000. Public Sector Pension Investment Board increased its holdings in Iridium Communications by 18.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 480,834 shares of the technology company's stock valued at $22,426,000 after buying an additional 73,494 shares during the period. Global Retirement Partners LLC increased its holdings in Iridium Communications by 136.3% in the 3rd quarter. Global Retirement Partners LLC now owns 11,235 shares of the technology company's stock valued at $538,000 after buying an additional 6,481 shares during the period. Intech Investment Management LLC bought a new position in Iridium Communications in the 3rd quarter valued at about $397,000. Finally, Carlson Capital L.P. acquired a new position in shares of Iridium Communications in the 3rd quarter valued at approximately $532,000. 84.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iridium Communications

In other news, CAO Timothy Kapalka sold 13,473 shares of Iridium Communications stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $50.51, for a total value of $680,521.23. Following the completion of the sale, the chief accounting officer directly owned 35,731 shares in the company, valued at approximately $1,804,772.81. The trade was a 27.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Fitzpatrick sold 15,046 shares of Iridium Communications stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $49.20, for a total transaction of $740,263.20. Following the completion of the sale, the director owned 43,260 shares of the company's stock, valued at approximately $2,128,392. The trade was a 25.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 381,688 shares of company stock worth $19,146,390. Company insiders own 2.70% of the company's stock.

About Iridium Communications

Iridium Communications provides satellite voice and data services through a low Earth orbit constellation designed to deliver coverage across the globe, including polar regions and remote areas beyond the reach of many terrestrial networks. Its customers include businesses, government agencies, and individuals working on land, at sea, and in the air. The company offers satellite phones, voice and broadband connectivity, push-to-talk communications, and Internet of Things services. Its Iridium Certus platform supports voice and data applications, while its network also carries safety and operational communications for sectors such as maritime, aviation, and government.

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