Iridium Communications Inc (IRDM) Expected to Announce Earnings of $0.20 Per Share
Analysts forecast that Iridium Communications Inc (NASDAQ:IRDM) will report earnings per share of $0.20 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Iridium Communications’ earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.25. Iridium Communications posted earnings of $0.26 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 23.1%. The firm is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Iridium Communications will report full year earnings of $0.80 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.96. For the next financial year, analysts expect that the business will report earnings of $0.50 per share, with EPS estimates ranging from ($0.13) to $1.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Iridium Communications had a net margin of 27.14% and a return on equity of 8.68%. The business had revenue of $111.60 million during the quarter, compared to the consensus estimate of $109.18 million. During the same period in the previous year, the business earned $0.22 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis.
Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.00.
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Shares of Iridium Communications (IRDM) traded down 2.174% on Thursday, hitting $10.125. 134,377 shares of the stock traded hands. The stock has a 50-day moving average price of $10.59 and a 200 day moving average price of $10.05. The firm has a market cap of $988.89 million, a P/E ratio of 10.829 and a beta of 1.69. Iridium Communications has a 52 week low of $6.80 and a 52 week high of $11.58.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Iridium Communications during the second quarter valued at about $217,000. Verition Fund Management LLC purchased a new position in shares of Iridium Communications during the second quarter valued at about $286,000. Piedmont Investment Advisors LLC purchased a new position in shares of Iridium Communications during the second quarter valued at about $195,000. Sterling Capital Management LLC increased its position in shares of Iridium Communications by 9.5% in the second quarter. Sterling Capital Management LLC now owns 102,285 shares of the technology company’s stock valued at $1,130,000 after buying an additional 8,913 shares in the last quarter. Finally, 361 Capital LLC purchased a new position in shares of Iridium Communications during the second quarter valued at about $366,000.
Iridium Communications Company Profile
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
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