Iridium Communications (NASDAQ:IRDM – Get Free Report) issued its earnings results on Thursday. The technology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.16, Zacks reports. Iridium Communications had a net margin of 14.09% and a return on equity of 14.34%. The company had revenue of $212,990 billion for the quarter, compared to analyst estimates of $204.10 million.
Iridium Communications Trading Down 1.1 %
Shares of IRDM stock traded down $0.36 during mid-day trading on Friday, reaching $31.63. The company’s stock had a trading volume of 1,924,093 shares, compared to its average volume of 981,978. The company’s 50 day simple moving average is $29.18 and its 200-day simple moving average is $28.85. Iridium Communications has a 12-month low of $24.14 and a 12-month high of $36.32. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $3.60 billion, a PE ratio of 33.65 and a beta of 0.65.
Iridium Communications Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s dividend payout ratio is presently 59.58%.
Wall Street Analyst Weigh In
Check Out Our Latest Analysis on Iridium Communications
Insider Activity
In related news, Director Thomas Fitzpatrick sold 12,500 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the sale, the director now directly owns 241,030 shares of the company’s stock, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% 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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