Iridium Communications (NASDAQ:IRDM) Shares Pass Above 200-Day Moving Average – What’s Next?

Shares of Iridium Communications Inc (NASDAQ:IRDM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.47 and traded as high as $26.42. Iridium Communications shares last traded at $26.30, with a volume of 1,836,838 shares.

Analyst Ratings Changes

IRDM has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Wednesday, February 18th. BWS Financial reissued a “sell” rating and set a $16.00 price target on shares of Iridium Communications in a research note on Tuesday, February 17th. Finally, Weiss Ratings upgraded Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Iridium Communications presently has an average rating of “Hold” and an average target price of $25.40.

Iridium Communications Trading Up 3.5%

The business has a fifty day simple moving average of $22.37 and a 200 day simple moving average of $19.47. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.72 and a beta of 0.60. The company has a debt-to-equity ratio of 3.80, a quick ratio of 1.82 and a current ratio of 2.48.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The company had revenue of $212.94 million during the quarter, compared to analysts’ expectations of $219.14 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts anticipate that Iridium Communications Inc will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, March 16th. Iridium Communications’s dividend payout ratio (DPR) is currently 56.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRDM. Quadrant Capital Group LLC boosted its stake in shares of Iridium Communications by 107.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock worth $25,000 after purchasing an additional 741 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of Iridium Communications by 184.7% in the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after buying an additional 977 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Iridium Communications during the fourth quarter valued at approximately $27,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Iridium Communications during the third quarter worth approximately $32,000. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.