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

Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.25.

A number of equities analysts recently commented on the company. Wall Street Zen cut Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Barclays reduced their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Oppenheimer started coverage on shares of Iridium Communications in a research report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price target for the company. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Finally, BWS Financial lowered their target price on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd.

Hedge Funds Weigh In On Iridium Communications

Large investors have recently made changes to their positions in the business. SVB Wealth LLC purchased a new position in shares of Iridium Communications in the first quarter worth $30,000. Plato Investment Management Ltd acquired a new stake in Iridium Communications during the 4th quarter worth about $32,000. SBI Securities Co. Ltd. acquired a new position in Iridium Communications in the fourth quarter valued at approximately $37,000. UMB Bank n.a. boosted its holdings in 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 buying an additional 779 shares in the last quarter. Finally, Pinnacle Holdings LLC lifted its position in shares of Iridium Communications by 45.4% during the 4th 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. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Stock Up 1.8%

Shares of NASDAQ IRDM traded up $0.53 during trading on Tuesday, reaching $30.04. The company had a trading volume of 2,347,098 shares, compared to its average volume of 1,273,627. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 3.43. Iridium Communications has a 12-month low of $19.91 and a 12-month high of $35.85. The stock has a market cap of $3.25 billion, a PE ratio of 28.34, a P/E/G ratio of 0.98 and a beta of 0.75. The business's 50-day moving average is $26.20 and its 200 day moving average is $27.76.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities analysts forecast that Iridium Communications will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.86%. Iridium Communications's dividend payout ratio is presently 52.83%.

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.