Iridium Communications Inc. (NASDAQ:IRDM – Get Free Report) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $45.00.
A number of equities analysts have recently weighed in on the company. BWS Financial reiterated a “neutral” rating and issued a $30.00 target price on shares of Iridium Communications in a report on Wednesday, July 24th. Barclays boosted their price target on Iridium Communications from $44.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th.
View Our Latest Analysis on IRDM
Iridium Communications Price Performance
Iridium Communications (NASDAQ:IRDM – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. The company had revenue of $201.07 million for the quarter, compared to the consensus estimate of $204.01 million. Iridium Communications had a return on equity of 10.23% and a net margin of 11.08%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) EPS. Equities research analysts expect that Iridium Communications will post 0.77 EPS for the current fiscal year.
Institutional Investors Weigh In On Iridium Communications
Several large investors have recently made changes to their positions in the company. Northwest Financial Advisors bought a new stake in Iridium Communications during the fourth quarter worth approximately $26,000. Allspring Global Investments Holdings LLC bought a new stake in Iridium Communications during the fourth quarter worth approximately $41,000. Acadian Asset Management LLC bought a new stake in Iridium Communications during the first quarter worth approximately $29,000. Mather Group LLC. bought a new stake in Iridium Communications during the second quarter worth approximately $32,000. Finally, Headlands Technologies LLC bought a new stake in Iridium Communications during the fourth quarter worth approximately $60,000. Institutional investors own 84.36% of the company’s stock.
About Iridium Communications
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.
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