Shares of Iridium Communications Inc. (NASDAQ:IRDM – Get Free Report) rose 6.2% during mid-day trading on Friday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an overweight rating on the stock. Iridium Communications traded as high as $31.63 and last traded at $31.53. Approximately 677,103 shares changed hands during trading, a decline of 41% from the average daily volume of 1,139,223 shares. The stock had previously closed at $29.69.
Other equities research analysts have also recently issued reports about the stock. Raymond James lowered their price objective on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 16th. William Blair cut shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. BWS Financial reiterated a “neutral” rating and set a $30.00 target price on shares of Iridium Communications in a report on Monday. Finally, TheStreet upgraded shares of Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.
View Our Latest Stock Analysis on IRDM
Hedge Funds Weigh In On Iridium Communications
Iridium Communications Trading Up 6.4 %
The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 150.14 and a beta of 0.85. The company has a quick ratio of 2.52, a current ratio of 3.33 and a debt-to-equity ratio of 1.86. The business has a 50 day moving average price of $27.29 and a 200-day moving average price of $34.53.
Iridium Communications (NASDAQ:IRDM – Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The company had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. During the same quarter last year, the company earned $0.08 earnings per share. Iridium Communications’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that Iridium Communications Inc. will post 0.73 EPS for the current fiscal year.
Iridium Communications Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, March 14th. Iridium Communications’s payout ratio is currently 247.62%.
Iridium Communications Company Profile
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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