Iridium Communications Stock Price, News & Analysis (NASDAQ:IRDM)

6 Wall Street equities research 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 equities research analysts is that investors should "buy" IRDM shares.
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6 Wall Street research analysts have issued 1 year price targets for Iridium Communications' shares. Their IRDM share price targets range from $53.00 to $75.00. On average, they expect the company's stock price to reach $64.40 in the next twelve months. This suggests a possible upside of 69.0% from the stock's current price.
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Iridium Communications' stock was trading at $51.40 at the beginning of 2023. Since then, IRDM shares have decreased by 25.9% and is now trading at $38.10.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 15th 2024.
View our IRDM earnings forecast.

Iridium Communications Inc. (NASDAQ:IRDM) announced its earnings results on Thursday, October, 19th. The technology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by $0.04. The technology company earned $197.60 million during the quarter, compared to analysts' expectations of $200.09 million. Iridium Communications had a negative trailing twelve-month return on equity of 2.26% and a negative net margin of 2.96%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS.

Iridium Communications announced a quarterly dividend on Tuesday, September 5th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.13 per share on Friday, September 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, September 14th.
Read our dividend analysis for IRDM.

Iridium Communications (NASDAQ:IRDM) pays an annual dividend of $0.52 per share and currently has a dividend yield of 1.37%.
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 announced that its board has initiated a share buyback plan on Thursday, July 27th 2023, which authorizes the company to buyback $400,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 6.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management 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' stock is owned by a number of retail and institutional investors. Top institutional investors include Bamco Inc. NY (11.77%), Clearbridge Investments LLC (1.75%), Van Berkom & Associates Inc. (1.66%), ARK Investment Management LLC (1.54%), Invesco Ltd. (1.38%) and Northern Trust Corp (1.28%). 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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