Iridium Communications (IRDM) Stock Forecast, Price & News

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last year. There are currently 1 hold rating, 2 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.

4 brokers have issued twelve-month price objectives for Iridium Communications' stock. Their IRDM share price forecasts range from $45.00 to $76.00. On average, they predict the company's share price to reach $67.00 in the next year. This suggests a possible upside of 4.8% 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 stock has increased by 24.4% and is now trading at $63.96.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 25th 2023.
View our IRDM earnings forecast.

Iridium Communications Inc. (NASDAQ:IRDM) announced its quarterly earnings data on Thursday, April, 20th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.10. The technology company earned $205.27 million during the quarter, compared to the consensus estimate of $187.98 million. Iridium Communications had a trailing twelve-month return on equity of 1.38% and a net margin of 2.07%. The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.02 earnings per share.

Iridium Communications announced a quarterly dividend on Thursday, May 4th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.13 per share on Friday, June 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Wednesday, June 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), SPDR S&P Kensho Final Frontiers ETF (ROKT), SPDR S&P Telecom ETF (XTL), Invesco S&P MidCap Momentum ETF (XMMO) and SPDR Kensho Future Security ETF (FITE).

Iridium Communications (NASDAQ:IRDM) pays an annual dividend of $0.52 per share and currently has a dividend yield of 0.83%. The dividend payout ratio is 400.03%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, IRDM will have a dividend payout ratio of 157.58% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for IRDM.

Iridium Communications announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 19th 2022, which allows the company to buyback $300,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership 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 a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (11.17%), State Street Corp (3.82%), Geode Capital Management LLC (1.99%), Dimensional Fund Advisors LP (1.67%), Clearbridge Investments LLC (1.63%) and Charles Schwab Investment Management Inc. (1.20%). 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 D Hickey, 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 $63.96.

Iridium Communications (NASDAQ:IRDM) has a market capitalization of $8.05 billion and generates $721.03 million in revenue each year. The technology company earns $8.72 million in net income (profit) each year or $0.13 on an earnings per share basis.

The company employs 537 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.