Iridium Communications (IRDM) Receives $13.00 Consensus Target Price from Analysts

Iridium Communications (NASDAQ:IRDM) has been assigned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $13.00.

IRDM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, December 26th. ValuEngine lowered Iridium Communications from a “strong-buy” rating to a “buy” rating in a report on Friday, February 23rd. Finally, BidaskClub upgraded Iridium Communications from a “hold” rating to a “buy” rating in a report on Tuesday, March 27th.

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Shares of Iridium Communications stock opened at $12.25 on Friday. The company has a market cap of $1,337.74, a price-to-earnings ratio of 17.50, a P/E/G ratio of 33.79 and a beta of 1.82. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.83. Iridium Communications has a 12-month low of $9.68 and a 12-month high of $13.25.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, February 22nd. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.24). The company had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. Iridium Communications had a return on equity of 7.21% and a net margin of 52.19%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. equities analysts predict that Iridium Communications will post 0.07 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Royce & Associates LP raised its stake in shares of Iridium Communications by 29.9% in the fourth quarter. Royce & Associates LP now owns 1,181,843 shares of the technology company’s stock valued at $13,946,000 after purchasing an additional 271,930 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Iridium Communications by 1.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 594,113 shares of the technology company’s stock valued at $7,011,000 after purchasing an additional 9,582 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Iridium Communications by 13.8% in the fourth quarter. Brown Advisory Inc. now owns 460,463 shares of the technology company’s stock valued at $5,433,000 after purchasing an additional 55,750 shares in the last quarter. WealthTrust Axiom LLC raised its stake in shares of Iridium Communications by 5.7% in the fourth quarter. WealthTrust Axiom LLC now owns 425,304 shares of the technology company’s stock valued at $5,018,000 after purchasing an additional 23,064 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Iridium Communications by 21.1% in the fourth quarter. Deutsche Bank AG now owns 360,673 shares of the technology company’s stock valued at $4,253,000 after purchasing an additional 62,720 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

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Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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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