Iridium Communications - IRDM Stock Forecast, Price & News

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. It also provides hosted payload and other data services, such as satellite time and location services, and inbound connections from the public switched telephone network, short message, subscriber identity module, activation, customer reactivation, and other peripheral services. In addition, the company offers voice and data solutions comprising personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; mobile communications and data devices for the military and intelligence agencies, such as secure satellite handsets, as well as netted voice, messaging, and paging services; and maintenance services for the United States government's dedicated gateway. Further, it provides satellite handsets, personal connectivity devices, voice and data modems, broadband data devices, and IoT data devices; various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, charging units, and others; and engineering and support services. Iridium Communications Inc. sells its products and services to commercial end users through a wholesale distribution network that include service providers, and value-added resellers and manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. was founded in 2000 and is headquartered in McLean, Virginia.

Iridium Communications Stock Performance

Shares of IRDM traded up $0.74 during trading on Wednesday, reaching $45.69. 373,280 shares of the company traded hands, compared to its average volume of 754,910. The stock has a 50-day simple moving average of $39.18 and a 200-day simple moving average of $38.12. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.23 and a quick ratio of 2.97. Iridium Communications has a twelve month low of $31.73 and a twelve month high of $48.95.

Iridium Communications (NASDAQ:IRDM - Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The technology company reported $0.04 EPS for the quarter. Iridium Communications had a negative return on equity of 0.05% and a negative net margin of 0.09%. The business had revenue of $174.90 million for the quarter, compared to analyst estimates of $166.46 million. During the same quarter in the previous year, the firm earned $0.03 EPS. Iridium Communications's quarterly revenue was up 16.6% on a year-over-year basis. Equities analysts predict that Iridium Communications will post 0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Iridium Communications from a "hold" rating to a "buy" rating in a research note on Tuesday, May 24th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $50.00.

Insider Activity at Iridium Communications

In other Iridium Communications news, insider Kathleen A. Morgan sold 3,000 shares of the company's stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $44.00, for a total transaction of $132,000.00. Following the completion of the sale, the insider now directly owns 49,399 shares in the company, valued at $2,173,556. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Iridium Communications news, Director Robert H. Niehaus sold 30,000 shares of Iridium Communications stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $45.19, for a total transaction of $1,355,700.00. Following the completion of the sale, the director now directly owns 311,782 shares in the company, valued at $14,089,428.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kathleen A. Morgan sold 3,000 shares of Iridium Communications stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $44.00, for a total transaction of $132,000.00. Following the completion of the transaction, the insider now directly owns 49,399 shares in the company, valued at $2,173,556. The disclosure for this sale can be found here. Insiders sold 49,801 shares of company stock valued at $2,240,833 in the last three months. Corporate insiders own 2.50% of the company's stock.