Zacks Research Issues Negative Forecast for IRDM Earnings

Iridium Communications Inc. (NASDAQ:IRDM - Free Report) - Analysts at Zacks Research lowered their Q1 2027 earnings per share (EPS) estimates for shares of Iridium Communications in a note issued to investors on Thursday, May 8th. Zacks Research analyst R. Department now expects that the technology company will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.47. The consensus estimate for Iridium Communications' current full-year earnings is $0.89 per share.

IRDM has been the topic of several other reports. Cantor Fitzgerald started coverage on Iridium Communications in a research report on Friday, January 24th. They set an "overweight" rating and a $40.00 target price on the stock. Oppenheimer initiated coverage on Iridium Communications in a research report on Monday, May 5th. They set an "outperform" rating and a $34.00 price objective on the stock. StockNews.com lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Finally, Barclays dropped their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $34.25.

Iridium Communications Stock Performance

IRDM traded up $0.32 during trading on Monday, hitting $25.65. The company's stock had a trading volume of 1,161,223 shares, compared to its average volume of 1,147,898. Iridium Communications has a one year low of $19.91 and a one year high of $35.85. The business's 50 day simple moving average is $25.67 and its 200-day simple moving average is $28.26. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The firm has a market cap of $2.77 billion, a PE ratio of 27.00, a P/E/G ratio of 1.28 and a beta of 0.74.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. The company had revenue of $214.88 million for the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same quarter in the prior year, the company earned $0.17 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after purchasing an additional 357 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Iridium Communications by 37.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,757 shares of the technology company's stock worth $48,000 after acquiring an additional 476 shares during the last quarter. Pinnacle Holdings LLC lifted its stake in shares of Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after acquiring an additional 477 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Iridium Communications by 3.7% during the 1st quarter. IFM Investors Pty Ltd now owns 13,402 shares of the technology company's stock valued at $366,000 after acquiring an additional 480 shares during the period. Finally, GAMMA Investing LLC grew its position in Iridium Communications by 14.1% in the 1st quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock valued at $108,000 after acquiring an additional 488 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors.

Iridium Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, March 17th. Iridium Communications's dividend payout ratio (DPR) is presently 52.83%.

Iridium Communications Company Profile

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.