Iridium Communications (IRDM) Scheduled to Post Quarterly Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is scheduled to issue its quarterly earnings data before the market opens on Thursday, October 17th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.17 by $0.10. Iridium Communications had a return on equity of 10.23% and a net margin of 11.08%. The business had revenue of $201.07 million for the quarter, compared to the consensus estimate of $204.01 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Iridium Communications’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts expect Iridium Communications to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Iridium Communications Stock Performance

NASDAQ:IRDM opened at $30.03 on Tuesday. The company has a market capitalization of $3.65 billion, a P/E ratio of 143.00 and a beta of 0.65. The business has a fifty day simple moving average of $27.94 and a two-hundred day simple moving average of $27.84. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.25 and a quick ratio of 1.52. Iridium Communications has a 1 year low of $24.14 and a 1 year high of $44.63.

Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Friday, September 13th. Iridium Communications’s dividend payout ratio is currently 266.67%.

Iridium Communications announced that its board has initiated a stock repurchase plan on Thursday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 14.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Iridium Communications from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. BWS Financial reaffirmed a “neutral” rating and set a $30.00 target price on shares of Iridium Communications in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.00.

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.