Zacks Research Brokers Lift Earnings Estimates for IRDM

Iridium Communications Inc. (NASDAQ:IRDM) – Investment analysts at Zacks Research lifted their Q1 2025 EPS estimates for Iridium Communications in a research note issued on Wednesday, March 5th. Zacks Research analyst R. Department now expects that the technology company will post earnings of $0.24 per share for the quarter, up from their previous forecast of $0.15. The consensus estimate for Iridium Communications’ current full-year earnings is $0.89 per share. Zacks Research also issued estimates for Iridium Communications’ FY2025 earnings at $1.05 EPS and FY2026 earnings at $1.40 EPS.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday, January 24th. They set an “overweight” rating and a $40.00 price target for the company. StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a report on Thursday, February 27th.

Iridium Communications Stock Performance

Shares of IRDM opened at $30.65 on Monday. Iridium Communications has a one year low of $24.14 and a one year high of $35.85. The business has a fifty day moving average of $29.69 and a 200 day moving average of $29.29. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $3.34 billion, a P/E ratio of 32.26, a PEG ratio of 1.28 and a beta of 0.70.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. The business had revenue of $212.99 million during the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Iridium Communications

Large investors have recently made changes to their positions in the business. Plato Investment Management Ltd bought a new stake in Iridium Communications during the 4th quarter valued at approximately $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Iridium Communications during the fourth quarter valued at approximately $37,000. Pinnacle Holdings LLC raised its position in shares of Iridium Communications by 45.4% during the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock valued at $44,000 after buying an additional 477 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Iridium Communications in the third quarter worth $57,000. Finally, Fifth Third Bancorp boosted its position in shares of Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after acquiring an additional 357 shares during the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

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.