Zacks: Analysts Predict Iridium Communications Inc. (NASDAQ: IRDM) to Report Earnings of $ -0.04 per Share


Stock analysts expect Iridium Communications Inc. (NASDAQ: IRDM) to report ($ 0.04) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts provided earnings estimates for Iridium Communications, with the highest EPS estimate being $ 0.01 and the lowest estimate being $ 0.06. Iridium Communications posted earnings of ($ 0.06) per share for the same quarter last year, indicating a positive year-over-year growth rate of 33.3%. The company is expected to announce its next earnings report on Thursday, February 10.

According to Zacks, analysts expect Iridium Communications to report annual earnings of ($ 0.08) per share for the current year, with EPS estimates ranging from $ 0.09 to $ 0.07 . For next year, analysts predict the company will report earnings of $ 0.11 per share, with EPS estimates ranging from $ 0.05 to $ 0.38. Zacks Investment Research earnings per share averages are an average based on a survey of sell-side research analysts who cover Iridium Communications.

Iridium Communications (NASDAQ: IRDM) last reported its quarterly results on Monday, October 18. The tech company reported ($ 0.02) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($ 0.02). The company posted revenue of $ 162.20 million in the quarter, compared to analysts’ estimates of $ 153.76 million. Iridium Communications posted a negative net margin of 1.88% and a negative return on equity of 0.84%. The company’s revenue grew 7.1% year-over-year. During the same period last year, the company posted ($ 0.03) EPS.

A number of analysts have recently published reports on the company. Zacks Investment Research downgraded Iridium Communications from a “keep” rating to a “sell” rating and set a price target of $ 45.00 for the company. in a research report on Thursday, October 21. Raymond James raised his price target on Iridium Communications from $ 46.00 to $ 47.00 and gave the stock an “outperformance” rating in a research report published on Wednesday, October 20. Finally, BWS Financial upgraded Iridium Communications from a “neutral” to a “buy” rating and raised its price target for the share from $ 37.00 to $ 60.00 in a published research report. Wednesday October 20. One investment analyst rated the stock with a sell rating, another issued a conservation rating, and three assigned a buy rating to the company. Based on data from, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 48.40.

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NASDAQ IRDM shares traded down $ 0.33 during the midday session Friday, reaching $ 42.29. 401,872 shares of the stock traded hands, compared to its average volume of 1,006,258. The company has a debt-to-equity ratio of 1.20, a current ratio of 4.20, and a quick ratio of 3. 95. The stock has a market cap of $ 5.59 billion, a PE ratio of -469.89 and a beta of 1.10. Iridium Communications has a one-year minimum of $ 32.85 and a one-year maximum of $ 54.65. The company’s 50-day moving average is $ 40.71 and its 200-day moving average is $ 41.09.

A number of institutional investors and hedge funds have recently bought and sold shares of IRDM. UBS Asset Management Americas Inc. increased its stake in Iridium Communications by 1.5% in the third quarter. UBS Asset Management Americas Inc. now owns 157,550 shares of the technology company valued at $ 6,278,000 after acquiring 2,338 additional shares in the last quarter. Moors & Cabot Inc. acquired a new interest in Iridium Communications in the third quarter valued at approximately $ 268,000. Balyasny Asset Management LLC acquired a new stake in Iridium Communications in the third quarter valued at approximately $ 997,000. American International Group Inc. increased its stake in Iridium Communications by 5.9% in the third quarter. American International Group Inc. now owns 290,416 shares of the technology company valued at $ 11,573,000 after acquiring an additional 16,243 shares in the last quarter. Finally, Bank of New York Mellon Corp strengthened its positions in Iridium Communications by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 1,298,345 shares of the technology company valued at $ 51,738,000 after acquiring an additional 139,055 shares in the last quarter. Institutional investors hold 94.28% of the shares of the company.

Iridium Communications Company Profile

Iridium Communications, Inc. is a mobile voice and data satellite communications network. Its satellite network provides communication where wireless or wired terrestrial networks do not exist or are limited. The company’s main lines of business include land mobile, maritime, aviation, IoT data services, hosted payload and other data services, and government.

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History and earnings estimates for Iridium Communications (NASDAQ: IRDM)

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