$112.00 Million in Sales Expected for Iridium Communications Inc (IRDM) This Quarter

Equities analysts expect Iridium Communications Inc (NASDAQ:IRDM) to announce sales of $112.00 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Iridium Communications’ earnings, with the highest sales estimate coming in at $115.74 million and the lowest estimate coming in at $109.40 million. Iridium Communications reported sales of $107.45 million during the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The company is expected to issue its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Iridium Communications will report full-year sales of $112.00 million for the current financial year, with estimates ranging from $441.90 million to $448.32 million. For the next financial year, analysts anticipate that the business will post sales of $482.49 million per share, with estimates ranging from $472.30 million to $489.44 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The firm had revenue of $116.55 million for the quarter, compared to the consensus estimate of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.26 earnings per share.

Several equities analysts have recently weighed in on IRDM shares. TheStreet raised shares of Iridium Communications from a “c+” rating to a “b” rating in a research note on Friday, October 27th. Wells Fargo & Co raised their price target on shares of Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. BidaskClub raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Zacks Investment Research downgraded shares of Iridium Communications from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Finally, ValuEngine raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Iridium Communications presently has a consensus rating of “Buy” and a consensus price target of $13.00.

In other news, Director A B. Krongard bought 45,750 shares of Iridium Communications stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $10.89 per share, with a total value of $498,217.50. Following the completion of the purchase, the director now directly owns 149,788 shares of the company’s stock, valued at $1,631,191.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP raised its stake in Iridium Communications by 26.9% during the third quarter. Royce & Associates LP now owns 909,913 shares of the technology company’s stock worth $9,372,000 after purchasing an additional 193,000 shares during the period. Elk Creek Partners LLC raised its stake in Iridium Communications by 7.2% during the third quarter. Elk Creek Partners LLC now owns 1,056,308 shares of the technology company’s stock worth $10,880,000 after purchasing an additional 70,990 shares during the period. Brown Advisory Inc. raised its stake in Iridium Communications by 2.5% during the third quarter. Brown Advisory Inc. now owns 404,713 shares of the technology company’s stock worth $4,168,000 after purchasing an additional 9,720 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Iridium Communications by 8.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 584,531 shares of the technology company’s stock worth $6,021,000 after purchasing an additional 44,141 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Iridium Communications by 23.8% during the third quarter. Wells Fargo & Company MN now owns 271,423 shares of the technology company’s stock worth $2,796,000 after purchasing an additional 52,238 shares during the period.

Iridium Communications (NASDAQ:IRDM) opened at $12.70 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67. The firm has a market cap of $1,240.00, a PE ratio of 16.08, a PEG ratio of 4.07 and a beta of 1.75. Iridium Communications has a 52 week low of $7.80 and a 52 week high of $12.90.

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Iridium Communications Company Profile

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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