Iridium Communications (NASDAQ:IRDM) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.
Several other research analysts have also commented on IRDM. ValuEngine lowered Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $13.00.
IRDM opened at $12.75 on Tuesday. The stock has a market capitalization of $1,392.34, a P/E ratio of 18.21, a P/E/G ratio of 35.17 and a beta of 1.82. Iridium Communications has a 12 month low of $9.68 and a 12 month high of $13.25. The company has a quick ratio of 1.83, a current ratio of 1.92 and a debt-to-equity ratio of 1.01.
Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.24). The company had revenue of $115.50 million during the quarter, compared to analysts’ expectations of $111.71 million. Iridium Communications had a return on equity of 7.21% and a net margin of 52.19%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 EPS. analysts anticipate that Iridium Communications will post 0.07 earnings per share for the current year.
Large investors have recently made changes to their positions in the business. Deutsche Bank AG boosted its position in shares of Iridium Communications by 21.1% during the fourth quarter. Deutsche Bank AG now owns 360,673 shares of the technology company’s stock valued at $4,253,000 after buying an additional 62,720 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Iridium Communications by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 146,208 shares of the technology company’s stock valued at $1,469,000 after buying an additional 11,989 shares during the period. First Trust Advisors LP boosted its position in shares of Iridium Communications by 20.6% during the fourth quarter. First Trust Advisors LP now owns 221,699 shares of the technology company’s stock valued at $2,616,000 after buying an additional 37,935 shares during the period. Wells Fargo & Company MN boosted its position in shares of Iridium Communications by 26.7% during the fourth quarter. Wells Fargo & Company MN now owns 343,830 shares of the technology company’s stock valued at $4,056,000 after buying an additional 72,407 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Iridium Communications during the fourth quarter valued at approximately $1,010,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
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Iridium Communications Company Profile
Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.
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