Cantor Fitzgerald Issues Negative Outlook for IRDM Earnings

Iridium Communications Inc. (NASDAQ:IRDM) – Analysts at Cantor Fitzgerald cut their FY2025 earnings per share estimates for shares of Iridium Communications in a note issued to investors on Tuesday, April 22nd. Cantor Fitzgerald analyst C. Canfield now forecasts that the technology company will post earnings of $0.79 per share for the year, down from their previous estimate of $0.84. Cantor Fitzgerald has a “Overweight” rating and a $40.00 price objective on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.89 per share.

Other analysts have also recently issued reports about the stock. BWS Financial lowered their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded Iridium Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays dropped their target price on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, William Blair upgraded shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.33.

Iridium Communications Trading Up 6.8 %

Shares of IRDM stock opened at $23.04 on Wednesday. The firm’s 50-day simple moving average is $27.38 and its 200-day simple moving average is $28.72. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. Iridium Communications has a 1-year low of $19.91 and a 1-year high of $35.85. The firm has a market cap of $2.51 billion, a P/E ratio of 24.25, a PEG ratio of 1.28 and a beta of 0.66.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. During the same period in the prior year, the firm posted $0.17 earnings per share.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, March 17th. Iridium Communications’s dividend payout ratio is presently 58.95%.

Institutional Trading of Iridium Communications

Several large investors have recently bought and sold shares of IRDM. Norges Bank purchased a new position in shares of Iridium Communications in the fourth quarter valued at $28,240,000. American Century Companies Inc. boosted its position in Iridium Communications by 94.2% in the 4th quarter. American Century Companies Inc. now owns 1,735,842 shares of the technology company’s stock valued at $50,374,000 after buying an additional 841,951 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Iridium Communications by 44.7% during the fourth quarter. Schroder Investment Management Group now owns 2,213,512 shares of the technology company’s stock valued at $64,125,000 after acquiring an additional 683,777 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Iridium Communications during the fourth quarter worth about $17,613,000. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Iridium Communications by 37.3% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,088,053 shares of the technology company’s stock worth $60,595,000 after acquiring an additional 567,164 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.