Iridium Communications Stock Rating Upgraded by Raymond James (IRDM)
Iridium Communications (NASDAQ:IRDM) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of Iridium Communications from a “neutral” rating to an “outperform” rating in a research note on Monday, May 12th. They now have a $8.50 price target on the stock, up previously from $7.00. Separately, analysts at Zacks upgraded shares of Iridium Communications from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $7.40 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Iridium Communications from $7.00 to $8.00 in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $7.98.
Shares of Iridium Communications (NASDAQ:IRDM) opened at 7.22 on Tuesday. Iridium Communications has a 1-year low of $5.37 and a 1-year high of $9.22. The stock’s 50-day moving average is $7.12 and its 200-day moving average is $6.53. The company has a market cap of $554.8 million and a price-to-earnings ratio of 9.55.
Iridium Communications (NASDAQ:IRDM) last released its earnings data on Thursday, May 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $98.00 million for the quarter, compared to the consensus estimate of $94.40 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Iridium Communications will post $0.74 EPS for the current fiscal year.
Iridium Communications Inc, is a provider of mobile voice and data communications services via satellite.
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