Iridium Communications (IRDM) to Release Quarterly Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is anticipated to announce its earnings results before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.15 per share and revenue of $204.10 million for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Iridium Communications Stock Performance

NASDAQ:IRDM opened at $29.06 on Thursday. Iridium Communications has a twelve month low of $24.14 and a twelve month high of $36.32. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68. The stock’s 50-day simple moving average is $29.33 and its 200 day simple moving average is $28.78. The firm has a market capitalization of $3.31 billion, a PE ratio of 30.92 and a beta of 0.65.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. Iridium Communications’s payout ratio is currently 59.58%.

Insider Transactions at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the sale, the director now directly owns 241,030 shares in the company, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRDM. BWS Financial restated a “neutral” rating and issued a $30.00 target price on shares of Iridium Communications in a research report on Monday, October 21st. Cantor Fitzgerald started coverage on Iridium Communications in a report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iridium Communications has an average rating of “Moderate Buy” and a consensus price target of $40.75.

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.