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NASDAQ:IRDM

Iridium Communications - IRDM Stock Forecast, Price & News

$45.29
-0.57 (-1.24%)
(As of 08/19/2022 03:59 PM ET)
Add
Compare
Today's Range
$45.15
$45.61
50-Day Range
$34.68
$46.67
52-Week Range
$31.73
$48.95
Volume
16,179 shs
Average Volume
472,360 shs
Market Capitalization
$5.75 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$50.00

Iridium Communications MarketRank™ Forecast

Analyst Rating
Buy
3.20 Rating Score
Upside/​Downside
9.9% Upside
$50.00 Price Target
Short Interest
Bearish
5.85% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.59
Upright™ Environmental Score
News Sentiment
1.10mentions of Iridium Communications in the last 14 days
Based on 4 Articles This Week
Insider Trading
Selling Shares
$2.59 M Sold Last Quarter
Proj. Earnings Growth
133.33%
From $0.09 to $0.21 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.68 out of 5 stars

Computer And Technology Sector

570th out of 660 stocks

Communications Equipment, Not Elsewhere Classified Industry

10th out of 10 stocks

IRDM stock logo

About Iridium Communications (NASDAQ:IRDM) Stock

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 Down 1.1 %

NASDAQ:IRDM traded down $0.52 during mid-day trading on Friday, hitting $45.34. 583 shares of the company's stock were exchanged, compared to its average volume of 472,360. The company has a 50 day simple moving average of $40.37 and a 200-day simple moving average of $38.63. The company has a quick ratio of 2.97, a current ratio of 3.23 and a debt-to-equity ratio of 1.33. Iridium Communications has a fifty-two week low of $31.73 and a fifty-two week high of $48.95.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Iridium Communications from a "hold" rating to a "buy" rating in a research note on Tuesday, May 24th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $50.00.

Insiders Place Their Bets

In other news, insider Suzanne E. Mcbride sold 7,500 shares of Iridium Communications stock in a transaction on Monday, August 15th. The shares were sold at an average price of $46.68, for a total value of $350,100.00. Following the completion of the sale, the insider now owns 110,553 shares in the company, valued at approximately $5,160,614.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Suzanne E. Mcbride sold 7,500 shares of Iridium Communications stock in a transaction on Monday, August 15th. The shares were sold at an average price of $46.68, for a total value of $350,100.00. Following the completion of the sale, the insider now owns 110,553 shares of the company's stock, valued at approximately $5,160,614.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 sale, the insider now directly owns 49,399 shares of the company's stock, valued at approximately $2,173,556. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,301 shares of company stock worth $2,590,933. 2.50% of the stock is currently owned by insiders.

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IRDM Company Calendar

Last Earnings
7/26/2022
Today
8/19/2022
Next Earnings (Estimated)
10/18/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Communications equipment, not elsewhere classified
Sub-Industry
Alternative Carriers
Current Symbol
NASDAQ:IRDM
CUSIP
46269C10
Employees
537
Year Founded
2000

Price Target and Rating

Average Stock Price Forecast
$50.00
High Stock Price Forecast
$60.00
Low Stock Price Forecast
$44.00
Forecasted Upside/Downside
+10.4%
Consensus Rating
Buy
Rating Score (0-4)
3.20
Research Coverage
5 Analysts

Profitability

Net Income
$-9,320,000.00
Pretax Margin
0.23%

Debt

Sales & Book Value

Annual Sales
$614.50 million
Cash Flow
$2.26 per share
Book Value
$9.30 per share

Miscellaneous

Free Float
123,800,000
Market Cap
$5.75 billion
Optionable
Optionable
Beta
1.16

Social Links


Key Executives

  • Mr. Matthew J. DeschMr. Matthew J. Desch (Age 64)
    CEO & Director
    Comp: $1.69M
  • Mr. Thomas J. FitzpatrickMr. Thomas J. Fitzpatrick (Age 64)
    CFO, Chief Admin. Officer & Director
    Comp: $963.73k
  • Ms. Suzanne E. McBrideMs. Suzanne E. McBride (Age 53)
    COO & Director
    Comp: $714.29k
  • Mr. Bryan J. HartinMr. Bryan J. Hartin (Age 58)
    Exec. VP of Sales & Marketing
    Comp: $596.45k
  • Mr. Scott T. ScheimreifMr. Scott T. Scheimreif (Age 53)
    Exec. VP of Gov. Programs
    Comp: $580.32k
  • Mr. Gregory Pelton
    Chief Technical Officer
  • Ms. Manjula Sriram
    VP & Chief Information Officer
  • Mr. Kenneth B. Levy
    VP of Investor Relations
  • Ms. Kathleen A. MorganMs. Kathleen A. Morgan
    Chief Legal Officer & Company Sec.
  • Mr. Donald L. Thoma (Age 60)
    Pres & CEO of Aireon LLC













IRDM Stock - Frequently Asked Questions

Should I buy or sell Iridium Communications stock right now?

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last twelve months. There are currently 4 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.
View IRDM analyst ratings
or view top-rated stocks.

What is Iridium Communications' stock price forecast for 2022?

5 brokerages have issued 12 month price objectives for Iridium Communications' stock. Their IRDM share price forecasts range from $44.00 to $60.00. On average, they predict the company's stock price to reach $50.00 in the next twelve months. This suggests a possible upside of 9.0% from the stock's current price.
View analysts price targets for IRDM
or view top-rated stocks among Wall Street analysts.

How have IRDM shares performed in 2022?

Iridium Communications' stock was trading at $41.29 on January 1st, 2022. Since then, IRDM shares have increased by 11.1% and is now trading at $45.86.
View the best growth stocks for 2022 here
.

When is Iridium Communications' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, October 18th 2022.
View our IRDM earnings forecast
.

How were Iridium Communications' earnings last quarter?

Iridium Communications Inc. (NASDAQ:IRDM) posted its earnings results on Tuesday, July, 26th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.00 by $0.04. The technology company had revenue of $174.90 million for the quarter, compared to analysts' expectations of $166.46 million. Iridium Communications had a negative net margin of 0.09% and a negative trailing twelve-month return on equity of 0.05%. The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS.

How will Iridium Communications' stock buyback program work?

Iridium Communications announced that its Board of Directors has initiated a share buyback program on Tuesday, April 19th 2022, which permits the company to repurchase $300,000,000.00 in shares, according to EventVestor. This repurchase authorization permits the company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

What is Matt Desch's approval rating as Iridium Communications' CEO?

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.

What other stocks do shareholders of Iridium Communications own?

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).

What is Iridium Communications' stock symbol?

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

Who are Iridium Communications' major shareholders?

Iridium Communications' stock is owned by many different institutional and retail investors. Top institutional shareholders include State Street Corp (3.95%), ARK Investment Management LLC (1.72%), Goldman Sachs Group Inc. (1.60%), Van Berkom & Associates Inc. (1.55%), Clearbridge Investments LLC (1.55%) and Northern Trust Corp (1.51%). Insiders that own company stock include Barry West, Bryan J Hartin, Henrik O Schliemann, Kathleen A Morgan, Leon Anthony Frazier, Matthew J Desch, Robert H Niehaus, 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.
View institutional ownership trends
.

How do I buy shares of Iridium Communications?

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.
Compare Top Brokerages Here.

What is Iridium Communications' stock price today?

One share of IRDM stock can currently be purchased for approximately $45.86.

How much money does Iridium Communications make?

Iridium Communications (NASDAQ:IRDM) has a market capitalization of $5.82 billion and generates $614.50 million in revenue each year.

How many employees does Iridium Communications have?

The company employs 537 workers across the globe.

Does Iridium Communications have any subsidiaries?
The following companies are subsidiares of Iridium Communications: Iridium Blocker-B Inc., Iridium Carrier Holdings LLC, Iridium Carrier Services LLC, Iridium Chile SpA, Iridium Constellation LLC, Iridium Government Services LLC, Iridium Holdings LLC, Iridium Holdings LLC, Iridium Satellite LLC, Iridium Satellite SA LLC, Iridium Satellite UK Limited, Iridium Serviços de Satélites S.A., OOO Iridium Communications, OOO Iridium Services, and Syncom-Iridium Holdings Corp..
Read More
When was Iridium Communications founded?

Iridium Communications was founded in 2000.

How can I contact Iridium Communications?

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.

This page (NASDAQ:IRDM) was last updated on 8/19/2022 by MarketBeat.com Staff

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