Analysts Anticipate Iridium Communications Inc (IRDM) Will Announce Earnings of $0.11 Per Share

Brokerages expect that Iridium Communications Inc (NASDAQ:IRDM) will report $0.11 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Iridium Communications’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.20. Iridium Communications posted earnings of $0.19 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 42.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Iridium Communications will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.68 to $0.93. For the next fiscal year, analysts forecast that the company will report earnings of $0.59 per share, with EPS estimates ranging from $0.21 to $1.04. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Iridium Communications.

Iridium Communications (NASDAQ:IRDM) last announced its earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The firm had revenue of $116.55 million for the quarter, compared to analysts’ expectations of $113.96 million. During the same quarter in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis.

A number of equities analysts recently issued reports on the stock. BidaskClub cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Co upped their price target on shares of Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $13.00.

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

Large investors have recently modified their holdings of the business. Flinton Capital Management LLC raised its position in Iridium Communications by 80.6% in the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after buying an additional 4,060 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Iridium Communications by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after buying an additional 1,303 shares during the last quarter. QS Investors LLC raised its position in Iridium Communications by 23,091.5% in the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after buying an additional 10,853 shares during the last quarter. Amalgamated Bank raised its position in Iridium Communications by 2.5% in the 2nd quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock worth $126,000 after buying an additional 284 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new position in Iridium Communications in the 2nd quarter worth about $127,000.

Shares of Iridium Communications (IRDM) traded up $0.05 during trading on Friday, reaching $12.80. 325,183 shares of the company were exchanged, compared to its average volume of 482,296. The company has a market cap of $1,249.13, a PE ratio of 13.91, a price-to-earnings-growth ratio of 4.30 and a beta of 1.75. Iridium Communications has a 52 week low of $7.80 and a 52 week high of $12.90. The company has a current ratio of 2.78, a quick ratio of 2.67 and a debt-to-equity ratio of 1.17.

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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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