Iridium Communications (NASDAQ:IRDM - Get Free Report) had its target price dropped by research analysts at Barclays from $31.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Barclays's price target points to a potential upside of 41.94% from the company's current price.
IRDM has been the topic of several other reports. Raymond James Financial lowered shares of Iridium Communications from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $39.00 to $26.00 in a research note on Thursday, September 11th. BWS Financial cut Iridium Communications from a "neutral" rating to a "sell" rating and cut their target price for the stock from $25.00 to $16.00 in a research report on Tuesday, September 9th. Finally, Morgan Stanley decreased their target price on Iridium Communications from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.67.
Read Our Latest Research Report on IRDM
Iridium Communications Stock Up 0.9%
Shares of IRDM traded up $0.15 during mid-day trading on Wednesday, reaching $17.61. The company's stock had a trading volume of 555,378 shares, compared to its average volume of 1,683,855. The company's 50 day moving average is $22.62 and its 200 day moving average is $25.58. The stock has a market cap of $1.87 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.63 and a beta of 0.78. Iridium Communications has a 12-month low of $17.08 and a 12-month high of $35.85. The company has a debt-to-equity ratio of 3.82, a current ratio of 2.51 and a quick ratio of 1.75.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $216.91 million during the quarter, compared to analysts' expectations of $214.73 million. Iridium Communications had a net margin of 13.20% and a return on equity of 20.28%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. Equities analysts anticipate that Iridium Communications will post 0.89 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in IRDM. SVB Wealth LLC acquired a new stake in shares of Iridium Communications during the 1st quarter worth about $30,000. UMB Bank n.a. boosted its position 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 acquiring an additional 779 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Iridium Communications by 37.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,757 shares of the technology company's stock valued at $48,000 after acquiring an additional 476 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in shares of Iridium Communications in the first quarter valued at $47,000. Finally, Johnson Financial Group Inc. acquired a new position in Iridium Communications in the second quarter valued at $70,000. Institutional investors and hedge funds own 84.36% of the company's stock.
Iridium Communications Company Profile
(
Get Free Report)
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.
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