Iridium Communications (IRDM) Projected to Post Quarterly Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) will likely be announcing its earnings results before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.15 per share and revenue of $204.10 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Iridium Communications Stock Down 1.6 %

Shares of NASDAQ:IRDM opened at $27.97 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68. Iridium Communications has a fifty-two week low of $24.14 and a fifty-two week high of $36.32. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 29.76 and a beta of 0.65. The firm’s 50 day moving average price is $29.23 and its 200 day moving average price is $28.82.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Monday, December 16th. Iridium Communications’s dividend payout ratio is presently 59.57%.

Insider Activity

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $28.53, for a total value of $356,625.00. Following the transaction, the director now owns 241,030 shares of the company’s stock, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

IRDM has been the topic of several recent analyst reports. Cantor Fitzgerald started coverage on Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 target price on the stock. BWS Financial reissued a “neutral” rating and set a $30.00 price target on shares of Iridium Communications in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.75.

Iridium Communications Company Profile

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.