BWS Financial Has Bearish Estimate for IRDM Q4 Earnings

Iridium Communications Inc. (NASDAQ:IRDM) – Research analysts at BWS Financial lowered their Q4 2024 earnings estimates for shares of Iridium Communications in a research report issued to clients and investors on Monday, October 21st. BWS Financial analyst H. Khorsand now expects that the technology company will earn $0.14 per share for the quarter, down from their previous forecast of $0.16. BWS Financial currently has a “Neutral” rating and a $30.00 target price on the stock. The consensus estimate for Iridium Communications’ current full-year earnings is $0.81 per share. BWS Financial also issued estimates for Iridium Communications’ Q1 2025 earnings at $0.16 EPS, Q2 2025 earnings at $0.19 EPS, Q3 2025 earnings at $0.23 EPS and FY2025 earnings at $0.76 EPS.

Separately, Barclays boosted their target price on Iridium Communications from $44.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Iridium Communications Stock Performance

IRDM opened at $28.94 on Wednesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.52 and a current ratio of 2.25. The company has a market cap of $3.51 billion, a PE ratio of 137.81 and a beta of 0.65. The stock has a 50-day moving average of $28.48 and a 200-day moving average of $28.08. Iridium Communications has a 52-week low of $24.14 and a 52-week high of $41.66.

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

Institutional Investors Weigh In On Iridium Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in Iridium Communications by 2.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 13,750 shares of the technology company’s stock valued at $418,000 after purchasing an additional 375 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Iridium Communications by 77.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,857 shares of the technology company’s stock valued at $696,000 after buying an additional 9,999 shares during the last quarter. Riverwater Partners LLC raised its position in shares of Iridium Communications by 406.3% during the third quarter. Riverwater Partners LLC now owns 85,146 shares of the technology company’s stock valued at $2,666,000 after buying an additional 68,329 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Iridium Communications by 2,945.0% in the third quarter. International Assets Investment Management LLC now owns 51,765 shares of the technology company’s stock valued at $1,700,000 after buying an additional 50,065 shares during the period. Finally, Lecap Asset Management Ltd. grew its position in Iridium Communications by 6.8% during the third quarter. Lecap Asset Management Ltd. now owns 26,587 shares of the technology company’s stock worth $810,000 after buying an additional 1,691 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Insider Buying and Selling

In other Iridium Communications news, Director Robert H. Niehaus sold 38,355 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $29.39, for a total value of $1,127,253.45. Following the sale, the director now owns 254,824 shares of the company’s stock, valued at $7,489,277.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

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

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.94%. Iridium Communications’s payout ratio is presently 266.67%.

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.