Iridium Communications (NASDAQ:IRDM) Receives "Neutral" Rating from BWS Financial

Iridium Communications (NASDAQ:IRDM - Get Free Report)'s stock had its "neutral" rating reaffirmed by investment analysts at BWS Financial in a note issued to investors on Monday, Benzinga reports. They presently have a $30.00 price objective on the technology company's stock. BWS Financial's price target suggests a potential upside of 6.72% from the company's current price.

IRDM has been the subject of a number of other reports. Barclays lowered their price target on Iridium Communications from $45.00 to $42.00 and set an "overweight" rating for the company in a research report on Friday, February 23rd. Raymond James reduced 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 research report on Friday, February 16th. TheStreet raised Iridium Communications from a "d+" rating to a "c-" rating in a report on Thursday, February 15th. Finally, William Blair lowered Iridium Communications from an "outperform" rating to a "market perform" rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.25.

Iridium Communications Stock Up 2.6 %

Shares of IRDM traded up $0.71 during trading hours on Monday, reaching $28.11. The stock had a trading volume of 1,832,529 shares, compared to its average volume of 1,120,672. The company has a current ratio of 3.33, a quick ratio of 2.52 and a debt-to-equity ratio of 1.86. The firm has a 50-day simple moving average of $27.66 and a 200 day simple moving average of $34.80. Iridium Communications has a 12 month low of $24.14 and a 12 month high of $68.34. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 129.86 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The company had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The firm's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. Equities research analysts predict that Iridium Communications will post 0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwest Financial Advisors bought a new position in Iridium Communications during the fourth quarter worth about $26,000. Allspring Global Investments Holdings LLC bought a new position in Iridium Communications in the 4th quarter worth approximately $41,000. Covestor Ltd grew its stake in Iridium Communications by 83.2% in the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company's stock valued at $46,000 after buying an additional 457 shares in the last quarter. Headlands Technologies LLC bought a new stake in Iridium Communications during the 4th quarter valued at $60,000. Finally, Quarry LP lifted its position in shares of Iridium Communications by 691.4% during the fourth quarter. Quarry LP now owns 1,939 shares of the technology company's stock worth $80,000 after acquiring an additional 1,694 shares in the last quarter. Institutional investors own 84.36% of the company's stock.

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.