Brokerages Anticipate Iridium Communications Inc (NASDAQ:IRDM) Will Announce Earnings of -$0.18 Per Share

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Analysts expect that Iridium Communications Inc (NASDAQ:IRDM) will announce ($0.18) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Iridium Communications’ earnings, with estimates ranging from ($0.18) to ($0.17). Iridium Communications posted earnings per share of ($0.09) in the same quarter last year, which would suggest a negative year-over-year growth rate of 100%. The business is expected to report its next earnings results on Thursday, February 27th.

According to Zacks, analysts expect that Iridium Communications will report full year earnings of ($0.57) per share for the current fiscal year, with EPS estimates ranging from ($0.66) to ($0.47). For the next year, analysts forecast that the company will post earnings of ($0.31) per share, with EPS estimates ranging from ($0.56) to $0.07. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Tuesday, October 29th. The technology company reported ($0.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). Iridium Communications had a negative return on equity of 3.91% and a negative net margin of 11.15%. The company had revenue of $144.80 million during the quarter, compared to the consensus estimate of $142.05 million. During the same period last year, the firm posted ($0.13) earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year.

Several research analysts have recently weighed in on IRDM shares. Zacks Investment Research cut Iridium Communications from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BidaskClub upgraded Iridium Communications from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. BWS Financial set a $33.00 price target on Iridium Communications and gave the stock a “buy” rating in a research note on Tuesday, September 17th. William Blair restated a “buy” rating on shares of Iridium Communications in a research note on Thursday, December 19th. Finally, Sidoti upgraded Iridium Communications from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.17.

In other news, VP Timothy Kapalka sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $25.80, for a total value of $645,000.00. Following the completion of the transaction, the vice president now owns 47,138 shares in the company, valued at $1,216,160.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven B. Pfeiffer sold 8,861 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $24.48, for a total value of $216,917.28. Following the completion of the transaction, the director now owns 110,792 shares of the company’s stock, valued at approximately $2,712,188.16. The disclosure for this sale can be found here. Insiders sold 146,677 shares of company stock valued at $3,724,059 in the last 90 days. Company insiders own 5.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of IRDM. Point72 Asset Management L.P. purchased a new stake in Iridium Communications during the second quarter valued at $43,000. Oppenheimer Asset Management Inc. purchased a new stake in Iridium Communications during the third quarter valued at $55,000. Nisa Investment Advisors LLC increased its position in Iridium Communications by 113.5% during the third quarter. Nisa Investment Advisors LLC now owns 6,585 shares of the technology company’s stock valued at $140,000 after acquiring an additional 3,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Iridium Communications by 38.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,622 shares of the technology company’s stock valued at $162,000 after purchasing an additional 2,111 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Iridium Communications by 4.5% during the third quarter. Commonwealth Equity Services LLC now owns 11,534 shares of the technology company’s stock valued at $245,000 after purchasing an additional 500 shares during the period. Institutional investors own 77.81% of the company’s stock.

Iridium Communications stock opened at $25.83 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 1.05. The business’s fifty day simple moving average is $24.38 and its two-hundred day simple moving average is $23.94. Iridium Communications has a 12 month low of $17.91 and a 12 month high of $28.24. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -184.50 and a beta of 2.05.

About Iridium Communications

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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