Zacks Research Brokers Reduce Earnings Estimates for IRDM

Iridium Communications Inc. (NASDAQ:IRDM) – Investment analysts at Zacks Research reduced their Q4 2024 EPS estimates for shares of Iridium Communications in a note issued to investors on Thursday, November 7th. Zacks Research analyst R. Department now expects that the technology company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.20. The consensus estimate for Iridium Communications’ current full-year earnings is $0.80 per share. Zacks Research also issued estimates for Iridium Communications’ Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.23 EPS, Q2 2026 earnings at $0.24 EPS, Q3 2026 earnings at $0.31 EPS and FY2026 earnings at $1.10 EPS.

A number of other brokerages also recently commented on IRDM. BWS Financial reaffirmed a “neutral” rating and set a $30.00 price objective on shares of Iridium Communications in a research report on Monday, October 21st. Barclays boosted their price target on shares of Iridium Communications from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Iridium Communications Trading Down 1.9 %

NASDAQ:IRDM opened at $29.78 on Monday. The stock has a market cap of $3.39 billion, a PE ratio of 31.68 and a beta of 0.65. Iridium Communications has a fifty-two week low of $24.14 and a fifty-two week high of $41.66. The company has a debt-to-equity ratio of 2.68, a current ratio of 2.62 and a quick ratio of 2.01. The stock’s 50-day moving average is $29.31 and its two-hundred day moving average is $28.35.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, October 17th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $212.77 million for the quarter, compared to the consensus estimate of $205.68 million. Iridium Communications had a return on equity of 14.34% and a net margin of 14.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Iridium Communications by 7,684.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,012 shares of the technology company’s stock worth $27,000 after purchasing an additional 999 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Iridium Communications during the first quarter worth approximately $29,000. Mather Group LLC. acquired a new position in shares of Iridium Communications during the second quarter worth approximately $32,000. Blue Trust Inc. boosted its position in shares of Iridium Communications by 109.7% in the second quarter. Blue Trust Inc. now owns 1,491 shares of the technology company’s stock valued at $39,000 after acquiring an additional 780 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Iridium Communications in the second quarter worth $45,000. Institutional investors and hedge funds own 84.36% of the company’s stock.

Insiders Place Their Bets

In other Iridium Communications news, insider Suzanne E. Mcbride sold 4,420 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $29.48, for a total value of $130,301.60. Following the completion of the sale, the insider now owns 182,797 shares of the company’s stock, valued at $5,388,855.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Suzanne E. Mcbride sold 4,420 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $29.48, for a total value of $130,301.60. Following the completion of the sale, the insider now directly owns 182,797 shares in the company, valued at approximately $5,388,855.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. Niehaus sold 38,355 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.39, for a total value of $1,127,253.45. Following the sale, the director now directly owns 254,824 shares of the company’s stock, valued at $7,489,277.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Iridium Communications announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to purchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 13th. Iridium Communications’s payout ratio is presently 59.58%.

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.