Iridium Communications Upgraded to “Neutral” at Zacks (IRDM)
Iridium Communications (NASDAQ:IRDM) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Monday, StockRatingsNetwork reports. The firm currently has a $6.80 price target on the stock. Zacks‘ price target would indicate a potential upside of 1.95% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Miller Tabak initiated coverage on shares of Iridium Communications in a research note to investors on Thursday, August 29th. They set a “strong-buy” rating and a $8.50 price target on the stock. Separately, analysts at Chardan Capital initiated coverage on shares of Iridium Communications in a research note to investors on Thursday, August 29th. They set a “neutral” rating and a $7.50 price target on the stock. Finally, analysts at TheStreet downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.70.
Shares of Iridium Communications (NASDAQ:IRDM) remained flat at $6.67 during trading on Monday. The stock had a trading volume of 320,462 shares. Iridium Communications has a 1-year low of $5.25 and a 1-year high of $9.22. The stock has a 50-day moving average of $6.8 and a 200-day moving average of $7.19. The company has a market cap of $511.1 million and a price-to-earnings ratio of 8.68.
Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.04. The company had revenue of $94.70 million for the quarter, compared to the consensus estimate of $99.31 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis.
Iridium Communications Inc, is a provider of mobile voice and data communications services via satellite.
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