BWS Financial Analysts Decrease Earnings Estimates for IRDM

Iridium Communications Inc. (NASDAQ:IRDM - Free Report) - Equities research analysts at BWS Financial decreased their Q4 2024 EPS estimates for Iridium Communications in a research report issued on Monday, October 21st. BWS Financial analyst H. Khorsand now expects that the technology company will earn $0.14 per share for the quarter, down from their prior estimate of $0.16. BWS Financial currently has a "Neutral" rating and a $30.00 target price on the stock. The consensus estimate for Iridium Communications' current full-year earnings is $0.81 per share. BWS Financial also issued estimates for Iridium Communications' Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.23 EPS and FY2025 earnings at $0.76 EPS.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.10. Iridium Communications had a net margin of 11.08% and a return on equity of 10.23%. The firm had revenue of $201.07 million for the quarter, compared to analyst estimates of $204.01 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. The company's quarterly revenue was up 4.1% compared to the same quarter last year.

Separately, Barclays increased their target price on shares of Iridium Communications from $44.00 to $45.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.00.

Iridium Communications Price Performance

IRDM traded up $0.89 on Wednesday, hitting $29.78. 1,318,058 shares of the stock were exchanged, compared to its average volume of 1,091,861. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 141.81 and a beta of 0.65. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.25 and a quick ratio of 1.52. Iridium Communications has a 12 month low of $24.14 and a 12 month high of $41.66. The business has a 50-day moving average of $28.46 and a two-hundred day moving average of $28.07.

Iridium Communications announced that its board has initiated a stock repurchase program on Thursday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to buy up to 14.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.14 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.88%. Iridium Communications's dividend payout ratio is presently 266.67%.

Hedge Funds Weigh In On Iridium Communications

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

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.