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Iridium Communications (NASDAQ:IRDM) reached a new 52-week high on Monday , AnalystRatingsNetwork reports. The company traded as high as $9.19 and last traded at $8.99, with a volume of 940,245 shares traded. The stock had previously closed at $8.73.

IRDM has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Iridium Communications from $8.50 to $9.50 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Separately, analysts at CRT Capital upgraded shares of Iridium Communications from a “fair value” rating to a “buy” rating in a research note on Friday, August 1st. They now have a $11.00 price target on the stock, up previously from $8.00. Finally, analysts at Wells Fargo & Co. initiated coverage on shares of Iridium Communications in a research note on Thursday, June 12th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.30.

The stock’s 50-day moving average is $8.31 and its 200-day moving average is $7.47. The company has a market cap of $850.0 million and a price-to-earnings ratio of 12.62.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.04. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $98.28 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Iridium Communications will post $0.60 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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