Iridium Communications Inc (NASDAQ:IRDM) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $13.00.
Several research firms recently issued reports on IRDM. Zacks Investment Research upgraded Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, December 26th. ValuEngine lowered Iridium Communications from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, BidaskClub lowered Iridium Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th.
Shares of Iridium Communications stock traded down $0.08 during trading on Monday, hitting $11.57. The stock had a trading volume of 53,077 shares, compared to its average volume of 728,205. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.83. The company has a market cap of $1,134.34, a price-to-earnings ratio of 6.37, a PEG ratio of 31.86 and a beta of 1.79. Iridium Communications has a 12-month low of $8.70 and a 12-month high of $13.25.
Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, February 22nd. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.24). The firm had revenue of $115.50 million for the quarter, compared to the consensus estimate of $111.71 million. Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. Iridium Communications’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share. analysts expect that Iridium Communications will post 0.07 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRDM. The Manufacturers Life Insurance Company lifted its holdings in Iridium Communications by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,750 shares of the technology company’s stock worth $738,000 after buying an additional 1,418 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Iridium Communications in the 3rd quarter valued at approximately $286,000. Stevens Capital Management LP purchased a new position in shares of Iridium Communications in the 3rd quarter valued at approximately $232,000. Prudential Financial Inc. lifted its stake in shares of Iridium Communications by 0.7% in the 3rd quarter. Prudential Financial Inc. now owns 1,299,599 shares of the technology company’s stock valued at $13,386,000 after purchasing an additional 8,933 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Iridium Communications by 122.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 57,449 shares of the technology company’s stock valued at $592,000 after purchasing an additional 31,663 shares during the period. Institutional investors and hedge funds own 99.96% of the company’s stock.
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About Iridium Communications
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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