Iridium Communications (NASDAQ:IRDM) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Iridium Communications (NASDAQ:IRDM - Get Free Report) posted its quarterly earnings data on Tuesday. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05, RTT News reports. The business had revenue of $214.88 million during 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 quarter in the prior year, the business posted $0.17 earnings per share.

Iridium Communications Trading Up 0.5 %

Iridium Communications stock traded up $0.12 during mid-day trading on Friday, hitting $23.16. 1,433,137 shares of the stock were exchanged, compared to its average volume of 1,132,472. The firm's fifty day simple moving average is $27.20 and its two-hundred day simple moving average is $28.67. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. Iridium Communications has a 12 month low of $19.91 and a 12 month high of $35.85. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.28 and a beta of 0.66.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Monday, March 17th. Iridium Communications's dividend payout ratio is presently 58.95%.

Analysts Set New Price Targets

A number of research analysts have issued reports on IRDM shares. Barclays decreased their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. BWS Financial decreased their target price on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday. StockNews.com downgraded Iridium Communications from a "buy" rating to a "hold" rating in a report on Tuesday, April 22nd. William Blair raised Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.33.

About Iridium Communications

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.