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.

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.