Iridium Communications (NASDAQ:IRDM) Announces Earnings Results

Iridium Communications (NASDAQ:IRDM - Get Free Report) posted its quarterly earnings results on Thursday. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.16, Zacks reports. Iridium Communications had a net margin of 14.09% and a return on equity of 14.34%. The business had revenue of $212.99 million during the quarter, compared to analysts' expectations of $203.78 million.

Iridium Communications Trading Down 1.1 %

Shares of NASDAQ IRDM traded down $0.36 during mid-day trading on Monday, reaching $31.63. 1,924,093 shares of the company's stock were exchanged, compared to its average volume of 981,978. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 33.65 and a beta of 0.65. Iridium Communications has a 52-week low of $24.14 and a 52-week high of $36.32. The company's 50-day moving average is $29.18 and its 200-day moving average is $28.85. The company has a debt-to-equity ratio of 2.68, a quick ratio of 2.01 and a current ratio of 2.62.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Monday, December 16th. Iridium Communications's dividend payout ratio (DPR) is presently 59.58%.

Insider Buying and Selling at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares of the company's stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BWS Financial reissued a "neutral" rating and set a $30.00 price target on shares of Iridium Communications in a report on Monday, October 21st. Cantor Fitzgerald initiated coverage on Iridium Communications in a research report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company.

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.