TheStreet lowered shares of Iridium Communications (NASDAQ:IRDM) from a b rating to a c+ rating in a research report report published on Tuesday morning.
Several other research analysts have also recently issued reports on IRDM. Zacks Investment Research upgraded shares of Iridium Communications from a sell rating to a hold rating in a report on Saturday, May 12th. BidaskClub cut shares of Iridium Communications from a strong-buy rating to a buy rating in a report on Wednesday, May 2nd. ValuEngine cut shares of Iridium Communications from a strong-buy rating to a buy rating in a report on Wednesday, May 2nd. Finally, BWS Financial assumed coverage on shares of Iridium Communications in a report on Wednesday, May 9th. They issued a buy rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $15.25.
Shares of Iridium Communications stock opened at $11.55 on Tuesday. 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 2.58, a current ratio of 2.68 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $1.29 billion, a PE ratio of 16.50, a P/E/G ratio of 21.84 and a beta of 1.80.
Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, April 26th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Iridium Communications had a net margin of 44.81% and a return on equity of 5.19%. The business had revenue of $119.10 million during the quarter, compared to analysts’ expectations of $111.60 million. During the same quarter in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. research analysts expect that Iridium Communications will post 0.11 earnings per share for the current year.
Several institutional investors have recently modified their holdings of IRDM. Bank of Montreal Can raised its position in Iridium Communications by 2,291.8% in the 4th quarter. Bank of Montreal Can now owns 129,348 shares of the technology company’s stock valued at $1,526,000 after purchasing an additional 123,940 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Iridium Communications by 1.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 594,113 shares of the technology company’s stock valued at $7,011,000 after purchasing an additional 9,582 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Iridium Communications in the 4th quarter valued at $1,010,000. James Investment Research Inc. raised its position in Iridium Communications by 12.4% in the 4th quarter. James Investment Research Inc. now owns 279,660 shares of the technology company’s stock valued at $3,300,000 after purchasing an additional 30,900 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Iridium Communications in the 4th quarter valued at $566,000. Institutional investors and hedge funds own 89.63% of the company’s stock.
About Iridium Communications
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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