Iridium Communications Inc. (NASDAQ:IRDM) Given Average Rating of "Moderate Buy" by Analysts

Iridium Communications Inc. (NASDAQ:IRDM - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.25.

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Oppenheimer assumed coverage on shares of Iridium Communications in a research report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price objective on the stock. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. BWS Financial decreased 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. Finally, Barclays decreased their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th.

Iridium Communications Stock Down 0.9%

Shares of NASDAQ:IRDM traded down $0.23 during trading on Friday, hitting $25.34. 1,432,433 shares of the company were exchanged, compared to its average volume of 1,160,847. The stock has a market capitalization of $2.74 billion, a P/E ratio of 26.67, a PEG ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. Iridium Communications has a 12-month low of $19.91 and a 12-month high of $35.85. The firm's 50 day moving average price is $25.08 and its 200-day moving average price is $27.92.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $214.88 million for the quarter, compared to analysts' expectations of $211.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. During the same period in the previous year, the company posted $0.17 EPS. On average, research analysts predict that Iridium Communications will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, June 13th. Iridium Communications's dividend payout ratio (DPR) is currently 52.83%.

Hedge Funds Weigh In On Iridium Communications

Several large investors have recently added to or reduced their stakes in the company. SVB Wealth LLC bought a new stake in Iridium Communications in the first quarter valued at $30,000. Plato Investment Management Ltd bought a new stake in Iridium Communications in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. bought a new stake in Iridium Communications in the fourth quarter valued at $37,000. UMB Bank n.a. lifted its stake in Iridium Communications by 129.8% in the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock valued at $38,000 after buying an additional 779 shares during the last quarter. Finally, Pinnacle Holdings LLC lifted its stake in 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 during the last quarter. 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.