Iridium Communications (IRDM) Announces Earnings Results

Iridium Communications (NASDAQ:IRDM) issued its quarterly earnings results on Thursday. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.06), MarketWatch Earnings reports. Iridium Communications had a return on equity of 1.01% and a net margin of 26.88%. The business had revenue of $136.76 million during the quarter, compared to analysts’ expectations of $128.32 million.

Shares of Iridium Communications stock traded down $1.70 during trading on Friday, reaching $18.51. 2,009,056 shares of the stock traded hands, compared to its average volume of 1,233,192. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 26.44 and a beta of 1.84. The company has a quick ratio of 2.09, a current ratio of 2.18 and a debt-to-equity ratio of 1.20. Iridium Communications has a 52-week low of $9.95 and a 52-week high of $24.10.

In other news, EVP Bryan J. Hartin sold 29,655 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $19.23, for a total transaction of $570,265.65. Following the completion of the transaction, the executive vice president now owns 94,168 shares in the company, valued at $1,810,850.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO S. Scott Smith sold 27,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $20.55, for a total value of $570,488.55. Following the transaction, the chief operating officer now owns 246,362 shares of the company’s stock, valued at approximately $5,062,739.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,871 shares of company stock valued at $2,134,866. Company insiders own 5.60% of the company’s stock.



A number of equities research analysts have issued reports on IRDM shares. Raymond James upgraded Iridium Communications to a “strong-buy” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded Iridium Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Friday, August 3rd. BidaskClub upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Northland Securities restated a “hold” rating and set a $14.75 price objective on shares of Iridium Communications in a research report on Wednesday, August 1st. Finally, Sidoti restated a “neutral” rating on shares of Iridium Communications in a research report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.55.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

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Earnings History for Iridium Communications (NASDAQ:IRDM)

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