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MSFT   214.65 (+0.20%)
FB   267.56 (+2.36%)
GOOGL   1,551.08 (+1.38%)
AMZN   3,217.01 (+0.31%)
TSLA   421.94 (-2.06%)
NVDA   545.82 (+1.09%)
BABA   309.81 (+1.48%)
CGC   18.88 (-4.69%)
GE   7.34 (+0.69%)
MU   53.53 (+1.71%)
AMD   81.56 (-0.54%)
T   26.76 (-0.45%)
F   7.74 (+1.98%)
ACB   4.56 (-3.18%)
GILD   60.55 (-0.03%)
NFLX   525.42 (-1.00%)
BA   167.24 (+0.08%)
BAC   24.14 (+1.77%)
DIS   124.95 (+0.58%)
QQQ   284.41 (+0.21%)
AAPL   117.51 (+1.32%)
MSFT   214.65 (+0.20%)
FB   267.56 (+2.36%)
GOOGL   1,551.08 (+1.38%)
AMZN   3,217.01 (+0.31%)
TSLA   421.94 (-2.06%)
NVDA   545.82 (+1.09%)
BABA   309.81 (+1.48%)
CGC   18.88 (-4.69%)
GE   7.34 (+0.69%)
MU   53.53 (+1.71%)
AMD   81.56 (-0.54%)
T   26.76 (-0.45%)
F   7.74 (+1.98%)
ACB   4.56 (-3.18%)
GILD   60.55 (-0.03%)
NFLX   525.42 (-1.00%)
BA   167.24 (+0.08%)
BAC   24.14 (+1.77%)
DIS   124.95 (+0.58%)
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AAPL   117.51 (+1.32%)
MSFT   214.65 (+0.20%)
FB   267.56 (+2.36%)
GOOGL   1,551.08 (+1.38%)
AMZN   3,217.01 (+0.31%)
TSLA   421.94 (-2.06%)
NVDA   545.82 (+1.09%)
BABA   309.81 (+1.48%)
CGC   18.88 (-4.69%)
GE   7.34 (+0.69%)
MU   53.53 (+1.71%)
AMD   81.56 (-0.54%)
T   26.76 (-0.45%)
F   7.74 (+1.98%)
ACB   4.56 (-3.18%)
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Iridium Communications Inc (NASDAQ:IRDM) Expected to Announce Quarterly Sales of $138.27 Million

Last updated on Sunday, October 18, 2020 | 2020 MarketBeat

Equities research analysts predict that Iridium Communications Inc (NASDAQ:IRDM) will post sales of $138.27 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Iridium Communications' earnings, with estimates ranging from $133.14 million to $141.81 million. Iridium Communications posted sales of $144.79 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.5%. The business is expected to issue its next earnings results before the market opens on Tuesday, October 20th.

On average, analysts expect that Iridium Communications will report full year sales of $558.41 million for the current year, with estimates ranging from $551.21 million to $562.07 million. For the next fiscal year, analysts expect that the company will post sales of $586.34 million, with estimates ranging from $572.58 million to $597.88 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that cover Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Tuesday, July 28th. The technology company reported ($0.09) EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.14) by $0.05. Iridium Communications had a negative net margin of 29.87% and a negative return on equity of 3.97%. The firm had revenue of $140.17 million for the quarter, compared to analyst estimates of $136.76 million. During the same period last year, the business earned ($0.16) EPS. Iridium Communications's revenue for the quarter was down 2.0% compared to the same quarter last year.

Several research analysts have issued reports on IRDM shares. Raymond James raised their price objective on shares of Iridium Communications from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. BidaskClub raised shares of Iridium Communications from a "sell" rating to a "hold" rating in a report on Thursday, October 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average target price of $29.75.

In other Iridium Communications news, CEO Matthew J. Desch sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $28.50, for a total transaction of $5,700,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,061,846 shares in the company, valued at $30,262,611. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas Fitzpatrick sold 100,000 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $28.00, for a total transaction of $2,800,000.00. Following the completion of the transaction, the chief financial officer now owns 454,285 shares of the company's stock, valued at $12,719,980. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 462,676 shares of company stock valued at $13,123,118. 3.80% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Capital International Investors raised its holdings in Iridium Communications by 44.1% in the first quarter. Capital International Investors now owns 4,795,145 shares of the technology company's stock valued at $107,076,000 after acquiring an additional 1,467,081 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Iridium Communications by 64.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,138,679 shares of the technology company's stock worth $54,408,000 after purchasing an additional 834,284 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Iridium Communications by 30.4% during the first quarter. Clearbridge Investments LLC now owns 1,498,754 shares of the technology company's stock worth $33,467,000 after purchasing an additional 349,443 shares during the period. State Street Corp raised its holdings in shares of Iridium Communications by 8.4% during the first quarter. State Street Corp now owns 3,605,019 shares of the technology company's stock worth $80,500,000 after purchasing an additional 278,155 shares during the period. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of Iridium Communications in the 2nd quarter worth about $70,000. Institutional investors and hedge funds own 83.23% of the company's stock.

Shares of Iridium Communications stock opened at $28.04 on Friday. Iridium Communications has a 1 year low of $16.87 and a 1 year high of $32.08. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.88 and a current ratio of 2.25. The company has a market capitalization of $3.72 billion, a P/E ratio of -21.74 and a beta of 1.40. The company's fifty day moving average is $27.48 and its two-hundred day moving average is $25.53.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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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7 Housing Sector Stocks That May Be Ready to Explode

In one of the strongest economies our nation has ever known, housing stocks should have been going through the roof. But it took the Federal Reserve practically giving money away for homebuyers to get their appetite back.

And then even with mortgage rates at historical lows, the novel coronavirus came on the scene and ruined the party again. Home buying and home building came to a halt. Some of which was simply due to the fact that Americans were staying inside.

One of the closely watched indicators of the health of the housing market is the National Association of Home Builders (NAHB) Housing Market Index (HMI). In March, prior to the national mitigation efforts, the HMI had climbed to 72. For reference purposes, a neutral reading is 50.

Although not unexpected, April showed just how far demand had fallen. The HMI plunged 42 points to 30. Things got slightly better in May as the index climbed to 37.

But that may be changing. In June, the HMI posted a better than expected 56.8%. After hitting 37 in May, this marked the Index’s largest monthly gain ever. And not surprisingly some lagging housing stocks got a much-needed jump start. Homebuilder stocks in particular have been on the rise in recent months.

To help you capitalize on what looks like an emerging trend for the rest of the year, we’ve put together this special presentation.

View the "7 Housing Sector Stocks That May Be Ready to Explode".

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