Iridium Communications - IRDM Stock Forecast, Price & News

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Iridium Communications in the last twelve months. There are currently 1 hold rating, 2 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.

4 analysts have issued 12-month price objectives for Iridium Communications' stock. Their IRDM share price forecasts range from $45.00 to $75.00. On average, they expect the company's stock price to reach $63.75 in the next year. This suggests a possible upside of 6.5% from the stock's current price.
View analysts price targets for IRDM or view top-rated stocks among Wall Street analysts.

Iridium Communications' stock was trading at $51.40 at the beginning of the year. Since then, IRDM stock has increased by 16.4% and is now trading at $59.85.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 18th 2023.
View our IRDM earnings forecast.

Iridium Communications Inc. (NASDAQ:IRDM) released its earnings results on Thursday, February, 16th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.00 by $0.01. The technology company had revenue of $193.80 million for the quarter, compared to analysts' expectations of $172.52 million. Iridium Communications had a net margin of 1.21% and a trailing twelve-month return on equity of 0.75%. The company's revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS.

Iridium Communications declared a quarterly dividend on Thursday, December 8th. Investors of record on Wednesday, March 15th will be given a dividend of $0.13 per share on Thursday, March 30th. This represents a $0.52 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, March 14th.
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), SPDR S&P Kensho Final Frontiers ETF (ROKT), SPDR S&P Telecom ETF (XTL), Invesco S&P MidCap Momentum ETF (XMMO), ProShares Ultra Communication Services (LTL) and WisdomTree U.S. Growth & Momentum Fund (WGRO).

Iridium Communications (NASDAQ:IRDM) pays an annual dividend of $0.52 per share and currently has a dividend yield of 0.88%. The dividend payout ratio is 742.96%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on EPS estimates, IRDM will have a dividend payout ratio of 325.00% in the coming year. This indicates that the company may not be able to sustain their current dividend.
Read our dividend analysis for IRDM.

Iridium Communications declared that its board has initiated a share buyback program on Tuesday, April 19th 2022, which permits the company to buyback $300,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to buy up to 6.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is 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 trades on the NASDAQ under the ticker symbol "IRDM."

Iridium Communications' stock is owned by many different institutional and retail investors. Top institutional shareholders include Bamco Inc. NY (11.55%), Dimensional Fund Advisors LP (1.94%), Geode Capital Management LLC (1.89%), Clearbridge Investments LLC (1.59%), Charles Schwab Investment Management Inc. (1.21%) and Van Berkom & Associates Inc. (1.20%). 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, 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.
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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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One share of IRDM stock can currently be purchased for approximately $59.85.

Iridium Communications (NASDAQ:IRDM) has a market capitalization of $7.58 billion and generates $721.03 million in revenue each year. The technology company earns $8.72 million in net income (profit) each year or $0.07 on an earnings per share basis.

The company employs 537 workers across the globe.

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.