Equities research analysts expect that Iridium Communications Inc (NASDAQ:IRDM) will report sales of $112.00 million for the current quarter, Zacks reports. Four analysts have made estimates for Iridium Communications’ earnings. The highest sales estimate is $115.74 million and the lowest is $109.40 million. Iridium Communications posted sales of $107.45 million in the same quarter last year, which suggests a positive year over year growth rate of 4.2%. The firm is expected to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Iridium Communications will report full year sales of $112.00 million for the current fiscal year, with estimates ranging from $441.90 million to $448.32 million. For the next fiscal year, analysts forecast that the business will post sales of $482.49 million per share, with estimates ranging from $472.30 million to $489.44 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The company had revenue of $116.55 million during the quarter, compared to analysts’ expectations of $113.96 million. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. Iridium Communications’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS.

Several brokerages have recently weighed in on IRDM. Zacks Investment Research cut Iridium Communications from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. TheStreet upgraded Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Wells Fargo & Company raised their price objective on Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 27th. ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Drexel Hamilton restated a “buy” rating and issued a $14.00 price objective on shares of Iridium Communications in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.33.

In other Iridium Communications news, Director A B. Krongard purchased 45,750 shares of Iridium Communications stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the acquisition, the director now owns 149,788 shares of the company’s stock, valued at approximately $1,631,191.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.40% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Royce & Associates LP grew its holdings in Iridium Communications by 26.9% during the third quarter. Royce & Associates LP now owns 909,913 shares of the technology company’s stock worth $9,372,000 after purchasing an additional 193,000 shares during the period. Elk Creek Partners LLC boosted its holdings in shares of Iridium Communications by 7.2% during the third quarter. Elk Creek Partners LLC now owns 1,056,308 shares of the technology company’s stock worth $10,880,000 after acquiring an additional 70,990 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Iridium Communications by 2.5% during the third quarter. Brown Advisory Inc. now owns 404,713 shares of the technology company’s stock worth $4,168,000 after acquiring an additional 9,720 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Iridium Communications by 8.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 584,531 shares of the technology company’s stock worth $6,021,000 after acquiring an additional 44,141 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Iridium Communications by 23.8% during the third quarter. Wells Fargo & Company MN now owns 271,423 shares of the technology company’s stock worth $2,796,000 after acquiring an additional 52,238 shares during the period.

Iridium Communications (NASDAQ IRDM) opened at $12.25 on Friday. The firm has a market capitalization of $1,195.24, a PE ratio of 13.26, a PEG ratio of 2.93 and a beta of 1.75. The company has a quick ratio of 2.67, a current ratio of 2.78 and a debt-to-equity ratio of 1.17. Iridium Communications has a 1-year low of $7.80 and a 1-year high of $12.90.

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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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Earnings History and Estimates for Iridium Communications (NASDAQ:IRDM)

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