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NASDAQ:IRDM

Iridium Communications - IRDM Stock Forecast, Price & News

$46.18
-0.49 (-1.05%)
(As of 08/16/2022 12:00 AM ET)
Add
Compare
Today's Range
$46.13
$46.75
50-Day Range
$34.68
$46.67
52-Week Range
$31.73
$48.95
Volume
582,829 shs
Average Volume
746,739 shs
Market Capitalization
$5.86 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
8.3% 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
1.03mentions of Iridium Communications in the last 14 days
Based on 7 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.

1.73 out of 5 stars

Computer And Technology Sector

563rd out of 664 stocks

Communications Equipment, Not Elsewhere Classified Industry

10th out of 11 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.

Wall Street Analyst Weigh In

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

Iridium Communications Price Performance

NASDAQ:IRDM traded down $0.49 during trading hours on Tuesday, hitting $46.18. 582,829 shares of the company's stock traded hands, compared to its average volume of 746,739. Iridium Communications has a twelve month low of $31.73 and a twelve month high of $48.95. The company has a quick ratio of 2.97, a current ratio of 3.23 and a debt-to-equity ratio of 1.33. The stock's fifty day moving average price is $40.00 and its two-hundred day moving average price is $38.51.

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

Insider Activity at Iridium Communications

In related news, insider Suzanne E. Mcbride sold 7,500 shares of the company's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $46.68, for a total transaction of $350,100.00. Following the transaction, the insider now directly owns 110,553 shares of the company's stock, valued at $5,160,614.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Iridium Communications news, insider Suzanne E. Mcbride sold 7,500 shares of the company's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $46.68, for a total value of $350,100.00. Following the transaction, the insider now directly owns 110,553 shares of the company's stock, valued at approximately $5,160,614.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Barry West sold 3,002 shares of the company's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $44.03, for a total value of $132,178.06. Following the completion of the transaction, the director now directly owns 44,423 shares in the company, valued at $1,955,944.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,301 shares of company stock valued at $2,590,933. Company insiders own 2.50% of the company's stock.

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IRDM Company Calendar

Last Earnings
7/26/2022
Today
8/16/2022
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
+8.3%
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
$2.28 per share
Book Value
$9.74 per share

Miscellaneous

Free Float
123,800,000
Market Cap
$5.86 billion
Optionable
Optionable
Beta
1.16

Social Links















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 analysts have issued twelve-month price targets for Iridium Communications' stock. Their IRDM share price forecasts range from $44.00 to $60.00. On average, they expect the company's share price to reach $50.00 in the next twelve months. This suggests a possible upside of 8.3% 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 at the start of the year. Since then, IRDM shares have increased by 11.8% and is now trading at $46.18.
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) released its quarterly earnings data on Tuesday, July, 26th. The technology company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.00 by $0.04. The technology company had revenue of $174.90 million for the quarter, compared to analyst estimates 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%. Iridium Communications's revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share.

How will Iridium Communications' stock buyback program work?

Iridium Communications announced that its Board of Directors has approved a stock buyback program on Tuesday, April 19th 2022, which authorizes the company to repurchase $300,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are typically an indication 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 retail and institutional investors. Top institutional investors include State Street Corp (3.95%), ARK Investment Management LLC (1.72%), Van Berkom & Associates Inc. (1.55%), Clearbridge Investments LLC (1.55%), Northern Trust Corp (1.51%) and Sumitomo Mitsui Trust Holdings Inc. (1.44%). 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 $46.18.

How much money does Iridium Communications make?

Iridium Communications (NASDAQ:IRDM) has a market capitalization of $5.86 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 8/16/2022 by MarketBeat.com Staff

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