Iridium Communications (IRDM) Expected to Announce Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is anticipated to announce its earnings results before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.15 per share and revenue of $204.10 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Iridium Communications Price Performance

Shares of IRDM opened at $29.06 on Thursday. The stock has a market cap of $3.31 billion, a P/E ratio of 30.92 and a beta of 0.65. The business’s fifty day moving average is $29.33 and its 200 day moving average is $28.78. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68. Iridium Communications has a 12-month low of $24.14 and a 12-month high of $36.32.

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s dividend payout ratio is currently 59.58%.

Analysts Set New Price Targets

IRDM has been the subject of a number of analyst reports. Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday, January 24th. They set an “overweight” rating and a $40.00 price target for the company. BWS Financial reissued a “neutral” rating and issued a $30.00 price target on shares of Iridium Communications in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iridium Communications has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

Insider Activity at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the sale, the director now owns 241,030 shares in the company, valued at $6,876,585.90. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

About Iridium Communications

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.