Iridium Communications Inc. (NASDAQ:IRDM – Free Report) – Equities research analysts at BWS Financial reduced their Q2 2024 earnings per share estimates for Iridium Communications in a research report issued on Monday, April 22nd. BWS Financial analyst H. Khorsand now expects that the technology company will post earnings per share of $0.21 for the quarter, down from their prior estimate of $0.22. BWS Financial currently has a “Neutral” rating and a $30.00 price target on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.73 per share. BWS Financial also issued estimates for Iridium Communications’ Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.20 EPS and FY2024 earnings at $0.80 EPS.
Iridium Communications (NASDAQ:IRDM – Get Free Report) last released its earnings results on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The business had revenue of $203.80 million during the quarter, compared to the consensus estimate of $193.84 million. During the same period last year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis.
View Our Latest Stock Analysis on Iridium Communications
Iridium Communications Price Performance
Iridium Communications stock opened at $29.69 on Wednesday. Iridium Communications has a one year low of $24.14 and a one year high of $65.69. The business has a fifty day moving average price of $27.29 and a 200-day moving average price of $34.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. The firm has a market capitalization of $3.61 billion, a P/E ratio of 138.86 and a beta of 0.85.
Institutional Investors Weigh In On Iridium Communications
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bamco Inc. NY increased its stake in Iridium Communications by 0.4% in the 3rd quarter. Bamco Inc. NY now owns 14,583,317 shares of the technology company’s stock worth $663,395,000 after buying an additional 58,818 shares in the last quarter. Silver Heights Capital Management Inc increased its stake in Iridium Communications by 8.8% in the 4th quarter. Silver Heights Capital Management Inc now owns 2,656,227 shares of the technology company’s stock worth $109,330,000 after buying an additional 214,508 shares in the last quarter. Clearbridge Investments LLC increased its stake in Iridium Communications by 4.5% in the 4th quarter. Clearbridge Investments LLC now owns 2,266,706 shares of the technology company’s stock worth $93,298,000 after buying an additional 97,167 shares in the last quarter. ARK Investment Management LLC increased its stake in Iridium Communications by 12.9% in the 4th quarter. ARK Investment Management LLC now owns 2,173,964 shares of the technology company’s stock worth $89,480,000 after buying an additional 249,185 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Iridium Communications by 19.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,089,600 shares of the technology company’s stock worth $54,664,000 after buying an additional 346,118 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.
Iridium Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 1.75%. Iridium Communications’s dividend payout ratio (DPR) is 247.62%.
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.
Read More
- Five stocks we like better than Iridium Communications
- What does consumer price index measure?
- Hasbro’s Management Made All the Right Calls This Quarter
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- Why Invest in 5G? How to Invest in 5G Stocks
- Power Surge: Utilities Sector’s Resilience Shines
Receive News & Ratings for Iridium Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iridium Communications and related companies with MarketBeat.com's FREE daily email newsletter.