Iridium Communications (NASDAQ:IRDM) Issues Earnings Results

Iridium Communications (NASDAQ:IRDM - Get Free Report) announced its quarterly earnings results on Tuesday. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05, RTT News reports. The company had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same period in the previous year, the company posted $0.17 earnings per share.

Iridium Communications Price Performance

Iridium Communications stock traded up $0.12 during midday trading on Friday, reaching $23.16. The company had a trading volume of 1,433,137 shares, compared to its average volume of 1,137,412. The company has a market capitalization of $2.52 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.28 and a beta of 0.66. The firm's fifty day simple moving average is $27.20 and its 200-day simple moving average is $28.68. Iridium Communications has a 12-month low of $19.91 and a 12-month high of $35.85. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.42%. Iridium Communications's dividend payout ratio is currently 58.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BWS Financial cut their target price on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday. StockNews.com downgraded shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Tuesday. Barclays lowered their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Cantor Fitzgerald started coverage on Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 price target for the company. Finally, William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.

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.