Iridium Communications Inc. (NASDAQ:IRDM - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $24.71 and last traded at $24.72, with a volume of 508105 shares traded. The stock had previously closed at $25.70.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. BWS Financial downgraded shares of Iridium Communications from a "buy" rating to a "neutral" rating and set a $30.00 price objective for the company. in a report on Friday, February 16th. Raymond James decreased their price objective on shares of Iridium Communications from $53.00 to $48.00 and set a "strong-buy" rating for the company in a report on Friday, February 16th. Barclays decreased their price objective on shares of Iridium Communications from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, February 23rd. TheStreet upgraded Iridium Communications from a "d+" rating to a "c-" rating in a research note on Thursday, February 15th. Finally, William Blair cut Iridium Communications from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iridium Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.80.
Check Out Our Latest Research Report on Iridium Communications
Iridium Communications Stock Down 4.0 %
The business's 50 day moving average is $28.53 and its 200 day moving average is $35.62. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.37 and a current ratio of 2.06. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 189.77 and a beta of 0.85.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its earnings results on Thursday, February 15th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.03 by $0.27. Iridium Communications had a return on equity of 1.58% and a net margin of 1.95%. The business had revenue of $194.74 million during the quarter, compared to analysts' expectations of $192.13 million. During the same quarter last year, the firm posted ($0.01) earnings per share. Iridium Communications's revenue was up .5% compared to the same quarter last year. Equities analysts expect that Iridium Communications Inc. will post 0.72 earnings per share for the current year.
Iridium Communications Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.52 annualized dividend and a yield of 2.11%. Iridium Communications's dividend payout ratio (DPR) is presently 400.00%.
Hedge Funds Weigh In On Iridium Communications
A number of large investors have recently made changes to their positions in IRDM. Rhumbline Advisers lifted its position in shares of Iridium Communications by 1.1% in the first quarter. Rhumbline Advisers now owns 359,276 shares of the technology company's stock worth $14,486,000 after purchasing an additional 3,957 shares in the last quarter. BlackRock Inc. lifted its position in shares of Iridium Communications by 0.5% in the first quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company's stock worth $634,635,000 after purchasing an additional 71,031 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Iridium Communications by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 70,873 shares of the technology company's stock worth $2,934,000 after purchasing an additional 4,877 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Iridium Communications by 3.5% in the first quarter. Yousif Capital Management LLC now owns 69,722 shares of the technology company's stock worth $2,811,000 after purchasing an additional 2,353 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Iridium Communications by 16.6% in the first quarter. Raymond James Trust N.A. now owns 9,943 shares of the technology company's stock worth $401,000 after purchasing an additional 1,417 shares in the last quarter. 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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