Analysts forecast that Iridium Communications Inc (NASDAQ:IRDM) will report $112.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Iridium Communications’ earnings. The highest sales estimate is $115.74 million and the lowest is $109.40 million. Iridium Communications posted sales of $107.45 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.2%. The firm is scheduled to issue its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Iridium Communications will report full-year sales of $112.00 million for the current fiscal year, with estimates ranging from $441.90 million to $448.32 million. For the next financial year, analysts expect that the company will post sales of $482.49 million per share, with estimates ranging from $472.30 million to $489.44 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. The company had revenue of $116.55 million during the quarter, compared to analyst estimates of $113.96 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, July 31st. TheStreet downgraded Iridium Communications from a “b” rating to a “c+” rating in a report on Thursday, August 17th. Drexel Hamilton reiterated a “buy” rating and issued a $14.00 price target on shares of Iridium Communications in a report on Thursday, August 31st. ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Wells Fargo & Company increased their price target on Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.33.
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Shares of Iridium Communications (NASDAQ:IRDM) opened at $12.00 on Wednesday. The stock has a market capitalization of $1,160.00, a P/E ratio of 12.39, a PEG ratio of 2.74 and a beta of 1.78. Iridium Communications has a one year low of $7.80 and a one year high of $12.90. The company has a quick ratio of 2.67, a current ratio of 2.78 and a debt-to-equity ratio of 1.17.
In other Iridium Communications news, Director A B. Krongard acquired 45,750 shares of the stock in a transaction dated Thursday, November 9th. The stock was purchased at an average price of $10.89 per share, with a total value of $498,217.50. Following the transaction, the director now directly owns 149,788 shares of the company’s stock, valued at $1,631,191.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO S. Scott Smith sold 135,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $10.51, for a total value of $1,418,850.00. Following the completion of the sale, the chief operating officer now directly owns 309,000 shares of the company’s stock, valued at approximately $3,247,590. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Flinton Capital Management LLC lifted its position in Iridium Communications by 80.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after acquiring an additional 4,060 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Iridium Communications during the 2nd quarter worth about $102,000. PNC Financial Services Group Inc. lifted its position in Iridium Communications by 15.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,303 shares during the period. Everence Capital Management Inc. acquired a new stake in Iridium Communications during the 2nd quarter worth about $116,000. Finally, QS Investors LLC raised its stake in shares of Iridium Communications by 23,091.5% during the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after buying an additional 10,853 shares during the last quarter.
About Iridium Communications
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
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