BWS Financial Cuts Iridium Communications (NASDAQ:IRDM) Price Target to $25.00

Iridium Communications (NASDAQ:IRDM) had its price target cut by BWS Financial from $30.00 to $25.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the technology company’s stock. BWS Financial also issued estimates for Iridium Communications’ Q2 2025 earnings at $0.29 EPS and FY2025 earnings at $1.08 EPS.

Several other brokerages have also weighed in on IRDM. Cantor Fitzgerald initiated coverage on Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company. William Blair upgraded Iridium Communications from a “market perform” rating to an “outperform” rating in a report on Tuesday. StockNews.com lowered shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays dropped their price target on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Iridium Communications has an average rating of “Moderate Buy” and an average target price of $34.33.

Iridium Communications Stock Up 0.5 %

NASDAQ IRDM opened at $23.16 on Wednesday. The business’s fifty day simple moving average is $27.20 and its 200-day simple moving average is $28.68. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The firm has a market cap of $2.52 billion, a PE ratio of 24.38, a P/E/G ratio of 1.28 and a beta of 0.66. Iridium Communications has a 52 week low of $19.91 and a 52 week high of $35.85.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The company had revenue of $214.88 million for the quarter, compared to the consensus estimate of $211.78 million. During the same period in the previous year, the firm earned $0.17 earnings per share. As a group, equities analysts anticipate that Iridium Communications will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.42%. The ex-dividend date was Monday, March 17th. Iridium Communications’s payout ratio is 58.95%.

Hedge Funds Weigh In On Iridium Communications

Several institutional investors have recently bought and sold shares of IRDM. Plato Investment Management Ltd purchased a new position in shares of Iridium Communications in the fourth quarter valued at approximately $32,000. SBI Securities Co. Ltd. purchased a new position in Iridium Communications in the 4th quarter valued at approximately $37,000. UMB Bank n.a. increased its position in shares of Iridium Communications by 129.8% during the first quarter. UMB Bank n.a. now owns 1,379 shares of the technology company’s stock worth $38,000 after acquiring an additional 779 shares during the period. Pinnacle Holdings LLC boosted its holdings in Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock valued at $44,000 after purchasing an additional 477 shares during the period. Finally, Fifth Third Bancorp grew its stake in Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after purchasing an additional 357 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

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.