Iridium Communications (NASDAQ:IRDM) Reaches New 1-Year Low - Should You Sell?

Iridium Communications Inc. (NASDAQ:IRDM - Get Free Report) shares reached a new 52-week low on Thursday . The company traded as low as $22.18 and last traded at $24.65, with a volume of 1621598 shares. The stock had previously closed at $22.65.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IRDM shares. StockNews.com upgraded Iridium Communications from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Barclays lowered their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Finally, Cantor Fitzgerald assumed coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price target on the stock.

Iridium Communications Price Performance

The company has a fifty day simple moving average of $28.40 and a 200-day simple moving average of $29.12. The company has a market cap of $2.66 billion, a P/E ratio of 25.68, a PEG ratio of 1.28 and a beta of 0.66. 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 (NASDAQ:IRDM - Get Free Report) last announced its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.16. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The company had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. On average, sell-side analysts predict that Iridium Communications Inc. will post 0.89 earnings per share for the current year.

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Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications's dividend payout ratio is presently 58.95%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after purchasing an additional 357 shares during the period. Pinnacle Holdings LLC boosted its position in shares of Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after buying an additional 477 shares during the period. GAMMA Investing LLC grew its holdings in shares of Iridium Communications by 14.1% during the first quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock valued at $108,000 after buying an additional 488 shares in the last quarter. Two Sigma Advisers LP raised its position in Iridium Communications by 6.6% during the fourth quarter. Two Sigma Advisers LP now owns 8,100 shares of the technology company's stock valued at $235,000 after buying an additional 500 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in Iridium Communications by 4.1% in the 4th quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock worth $445,000 after acquiring an additional 600 shares in the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

About Iridium Communications

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.