Analysts Set Iridium Communications Inc. (NASDAQ:IRDM) Target Price at $34.25

Iridium Communications Inc. (NASDAQ:IRDM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $34.25.

IRDM has been the topic of a number of research reports. BWS Financial cut their price objective on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Oppenheimer began coverage on shares of Iridium Communications in a report on Monday, May 5th. They set an "outperform" rating and a $34.00 target price on the stock. William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. StockNews.com downgraded Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Cantor Fitzgerald began coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company.

Iridium Communications Trading Up 1.7 %

IRDM traded up $0.44 during midday trading on Monday, hitting $26.45. The company's stock had a trading volume of 796,518 shares, compared to its average volume of 1,140,200. The firm has a market cap of $2.86 billion, a P/E ratio of 27.84, a PEG ratio of 1.28 and a beta of 0.74. Iridium Communications has a 52-week low of $19.91 and a 52-week high of $35.85. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. The firm has a 50-day moving average price of $25.94 and a two-hundred day moving average price of $28.33.

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, beating analysts' consensus estimates of $0.22 by $0.05. The company had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. During the same quarter last year, the business earned $0.17 EPS. On average, research analysts anticipate that Iridium Communications will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications's dividend payout ratio is currently 52.83%.

Institutional Trading of Iridium Communications

Several hedge funds have recently made changes to their positions in IRDM. 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 4th quarter valued at about $37,000. UMB Bank n.a. grew its position in Iridium Communications by 129.8% in the 1st 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 last quarter. Pinnacle Holdings LLC increased its stake 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 purchasing an additional 477 shares during the period. Finally, Cooksen Wealth LLC bought a new stake in shares of Iridium Communications during the first quarter valued at approximately $47,000. Institutional investors own 84.36% of the company's stock.

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.