Equities analysts expect Iridium Communications Inc (NASDAQ:IRDM) to announce $114.11 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Iridium Communications’ earnings, with estimates ranging from $113.00 million to $116.46 million. Iridium Communications posted sales of $112.79 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.2%. The business is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Iridium Communications will report full year sales of $114.11 million for the current financial year, with estimates ranging from $436.40 million to $447.49 million. For the next fiscal year, analysts forecast that the firm will post sales of $478.50 million per share, with estimates ranging from $457.20 million to $493.71 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Iridium Communications.
Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $111.60 million during the quarter, compared to analyst estimates of $109.18 million. Iridium Communications had a net margin of 27.14% and a return on equity of 8.68%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS.
Several research analysts have issued reports on IRDM shares. Zacks Investment Research raised shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, April 28th. BidaskClub raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IRDM. State Street Corp raised its stake in shares of Iridium Communications by 10.9% in the fourth quarter. State Street Corp now owns 1,909,931 shares of the technology company’s stock valued at $18,337,000 after buying an additional 187,491 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Iridium Communications during the fourth quarter valued at about $181,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Iridium Communications by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 53,894 shares of the technology company’s stock valued at $517,000 after buying an additional 189 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Iridium Communications by 1.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,940 shares of the technology company’s stock valued at $403,000 after buying an additional 590 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Iridium Communications by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 203,763 shares of the technology company’s stock valued at $1,956,000 after buying an additional 3,907 shares during the period.
Shares of Iridium Communications (IRDM) opened at 9.95 on Tuesday. The stock has a market cap of $971.80 million, a price-to-earnings ratio of 10.64 and a beta of 1.71. Iridium Communications has a 1-year low of $6.80 and a 1-year high of $11.57. The firm has a 50-day moving average of $10.90 and a 200 day moving average of $10.07.
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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