Iridium Communications (IRDM) Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last year. There are currently 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" IRDM shares.
View IRDM analyst ratings or view top-rated stocks.

6 Wall Street analysts have issued 12 month target prices for Iridium Communications' shares. Their IRDM share price forecasts range from $57.00 to $75.00. On average, they predict the company's share price to reach $67.20 in the next year. This suggests a possible upside of 47.4% from the stock's current price.
View analysts price targets for IRDM or view top-rated stocks among Wall Street analysts.

Iridium Communications' stock was trading at $51.40 on January 1st, 2023. Since then, IRDM shares have decreased by 11.3% and is now trading at $45.60.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, October 19th 2023.
View our IRDM earnings forecast.

Iridium Communications Inc. (NASDAQ:IRDM) posted its earnings results on Tuesday, July, 25th. The technology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by $0.28. The technology company earned $193.10 million during the quarter, compared to analysts' expectations of $198.42 million. Iridium Communications had a negative net margin of 2.53% and a negative trailing twelve-month return on equity of 1.80%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share.

Iridium Communications declared a quarterly dividend on Tuesday, September 5th. Investors of record on Friday, September 15th will be given a dividend of $0.13 per share on Friday, September 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 14th.
Read our dividend analysis for IRDM.

ETFs with the largest weight of Iridium Communications (NASDAQ:IRDM) stock in their portfolio include ARK Space Exploration & Innovation ETF (ARKX), ARK Autonomous Technology & Robotics ETF (ARKQ), Procure Space ETF (UFO), Invesco S&P 500 Equal Weight Communication Services ETF (EWCO), Invesco S&P 500 Equal Weight Communication Services ETF (RSPC), SPDR S&P Kensho Final Frontiers ETF (ROKT), SPDR S&P Telecom ETF (XTL) and iShares U.S. Telecommunications ETF (IYZ).

Iridium Communications (NASDAQ:IRDM) pays an annual dividend of $0.52 per share and currently has a dividend yield of 1.10%.
Read our dividend analysis for IRDM.

Iridium Communications declared that its board has initiated a share buyback program on Thursday, July 27th 2023, which permits the company to repurchase $400,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to repurchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

48 employees have rated Iridium Communications Chief Executive Officer Matt Desch on Glassdoor.com. Matt Desch has an approval rating of 70% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Iridium Communications investors own include NVIDIA (NVDA), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Micron Technology (MU), Verizon Communications (VZ), Block (SQ), Bank of America (BAC), AT&T (T), General Electric (GE) and Boeing (BA).

Iridium Communications trades on the NASDAQ under the ticker symbol "IRDM."

Iridium Communications' stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (9.29%), Capital International Investors (6.19%), State Street Corp (3.22%), Clearbridge Investments LLC (1.65%), Dimensional Fund Advisors LP (1.64%) and Geode Capital Management LLC (1.59%). Insiders that own company stock include A B Krongard, Barry West, Bryan J Hartin, Henrik O Schliemann, Kathleen A Morgan, Leon Anthony Frazier, Matthew J Desch, Parker William Rush, Robert H Niehaus, Scott Scheimreif, Steven B Pfeiffer, Suzanne E Mcbride, Suzanne E Mcbride, Thomas C Canfield, Thomas Fitzpatrick and Timothy Kapalka.
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Shares of IRDM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of IRDM stock can currently be purchased for approximately $45.60.

Iridium Communications (NASDAQ:IRDM) has a market capitalization of $5.70 billion and generates $721.03 million in revenue each year. The technology company earns $8.72 million in net income (profit) each year or ($0.15) on an earnings per share basis.

The company employs 658 workers across the globe.

Iridium Communications' mailing address is 1750 TYSONS BOULEVARD SUITE 1400, MCLEAN VA, 22102. The official website for the company is www.iridium.com. The technology company can be reached via phone at (703) 287-7400, via email at investor.relations@iridium.com, or via fax at 703-287-7450.