News stories about Iridium Communications (NASDAQ:IRDM) have trended somewhat positive on Friday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Iridium Communications earned a coverage optimism score of 0.15 on Accern’s scale. Accern also gave headlines about the technology company an impact score of 46.0351466440675 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Several brokerages have recently issued reports on IRDM. TheStreet cut Iridium Communications from a “b” rating to a “c+” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Iridium Communications from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, September 27th. Drexel Hamilton reiterated a “buy” rating and issued a $14.00 price objective on shares of Iridium Communications in a research note on Thursday, August 31st. Wells Fargo & Company lifted their price objective on Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Finally, ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $12.33.
Iridium Communications (NASDAQ:IRDM) traded up $0.20 during mid-day trading on Friday, reaching $11.30. The company had a trading volume of 835,600 shares, compared to its average volume of 920,975. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.67 and a current ratio of 2.78. Iridium Communications has a 12-month low of $7.80 and a 12-month high of $12.90. The stock has a market capitalization of $1,110.00, a PE ratio of 12.06, a price-to-earnings-growth ratio of 2.67 and a beta of 1.78.
Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. The company had revenue of $116.55 million during the quarter, compared to analysts’ expectations of $113.96 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. research analysts predict that Iridium Communications will post 0.83 EPS for the current fiscal year.
In other Iridium Communications news, COO S. Scott Smith sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $10.51, for a total value of $1,418,850.00. Following the completion of the sale, the chief operating officer now owns 309,000 shares in the company, valued at $3,247,590. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director A B. Krongard acquired 45,750 shares of Iridium Communications stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $10.89 per share, with a total value of $498,217.50. Following the purchase, the director now owns 149,788 shares of the company’s stock, valued at approximately $1,631,191.32. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.
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Iridium Communications Company Profile
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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