$112.00 Million in Sales Expected for Iridium Communications Inc (IRDM) This Quarter
Brokerages expect Iridium Communications Inc (NASDAQ:IRDM) to post sales of $112.00 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Iridium Communications’ earnings. The lowest sales estimate is $109.40 million and the highest is $115.74 million. Iridium Communications reported sales of $107.45 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.2%. The firm is expected to report its next quarterly earnings results 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 year, analysts forecast that the business will report sales of $482.49 million per share, with estimates ranging from $472.30 million to $489.44 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $116.55 million for 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%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share.
In related news, Director A B. Krongard acquired 45,750 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were acquired at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the purchase, the director now directly owns 149,788 shares in the company, valued at $1,631,191.32. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. 361 Capital LLC bought a new stake in shares of Iridium Communications during the second quarter valued at about $366,000. Ameriprise Financial Inc. raised its stake in shares of Iridium Communications by 1.5% during the second quarter. Ameriprise Financial Inc. now owns 433,774 shares of the technology company’s stock valued at $4,794,000 after purchasing an additional 6,497 shares in the last quarter. Brown Advisory Inc. raised its stake 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 valued at $4,168,000 after purchasing an additional 9,720 shares in the last quarter. Northern Trust Corp raised its stake in shares of Iridium Communications by 64.1% during the second quarter. Northern Trust Corp now owns 2,055,329 shares of the technology company’s stock valued at $22,711,000 after purchasing an additional 803,190 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Iridium Communications by 2.1% during the second quarter. State Street Corp now owns 2,028,349 shares of the technology company’s stock valued at $22,409,000 after purchasing an additional 41,109 shares in the last quarter.
Shares of Iridium Communications (NASDAQ:IRDM) opened at $12.70 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.78 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1,240.00, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 4.07 and a beta of 1.75. Iridium Communications has a one year low of $7.80 and a one 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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