Iridium Communications’ (IRDM) “Sell” Rating Reaffirmed at BWS Financial

BWS Financial reiterated their sell rating on shares of Iridium Communications (NASDAQ:IRDM) in a research report released on Wednesday morning,Benzinga reports. They currently have a $16.00 price objective on the technology company’s stock.

IRDM has been the topic of several other reports. Barclays boosted their price target on shares of Iridium Communications from $25.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Weiss Ratings raised Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Finally, Morgan Stanley upped their price target on Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Iridium Communications currently has an average rating of “Hold” and a consensus price target of $27.60.

Iridium Communications Price Performance

Shares of Iridium Communications stock opened at $37.99 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 3.80. The company’s 50-day moving average price is $26.34 and its two-hundred day moving average price is $21.02. Iridium Communications has a 52 week low of $15.65 and a 52 week high of $38.17. The stock has a market cap of $4.02 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.44 and a beta of 0.48.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The firm had revenue of $212.94 million for the quarter, compared to analysts’ expectations of $219.14 million. During the same period in the previous year, the business earned $0.32 earnings per share. Iridium Communications’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Iridium Communications will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, March 16th. Iridium Communications’s payout ratio is presently 56.60%.

Insider Transactions at Iridium Communications

In other Iridium Communications news, CAO Timothy Kapalka sold 2,043 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $33.00, for a total transaction of $67,419.00. Following the sale, the chief accounting officer owned 45,721 shares in the company, valued at approximately $1,508,793. The trade was a 4.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.70% of the company’s stock.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in Iridium Communications by 107.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after buying an additional 741 shares during the period. Hantz Financial Services Inc. raised its holdings in Iridium Communications by 184.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after buying an additional 977 shares during the period. Larson Financial Group LLC raised its holdings in Iridium Communications by 392.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after buying an additional 1,202 shares during the period. Kestra Advisory Services LLC acquired a new stake in Iridium Communications during the 4th quarter worth about $27,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Iridium Communications during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 84.36% of the company’s stock.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.