Q4 EPS Estimate for Iridium Communications Cut by Analyst

Iridium Communications Inc. (NASDAQ:IRDM) – Research analysts at BWS Financial decreased their Q4 2024 earnings per share estimates for Iridium Communications in a research report issued on Monday, October 21st. BWS Financial analyst H. Khorsand now expects that the technology company will post earnings of $0.14 per share for the quarter, down from their previous estimate 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.

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

Separately, Barclays increased their price objective on shares of Iridium Communications from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iridium Communications has an average rating of “Moderate Buy” and an average price target of $41.00.

Iridium Communications Trading Up 3.1 %

IRDM stock opened at $29.78 on Wednesday. The firm has a fifty day moving average price of $28.46 and a 200 day moving average price of $28.07. Iridium Communications has a fifty-two week low of $24.14 and a fifty-two week high of $41.66. The firm has a market cap of $3.62 billion, a PE ratio of 141.81 and a beta of 0.65. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.52 and a current ratio of 2.25.

Iridium Communications announced that its Board of Directors has initiated a share buyback program on Thursday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to repurchase up to 14.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, September 13th. This represents a $0.56 annualized dividend and a yield of 1.88%. Iridium Communications’s payout ratio is presently 266.67%.

Institutional Trading of Iridium Communications

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Iridium Communications by 7,684.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,012 shares of the technology company’s stock valued at $27,000 after acquiring an additional 999 shares during the period. Acadian Asset Management LLC bought a new position in Iridium Communications during the 1st quarter valued at about $29,000. Mather Group LLC. purchased a new stake in Iridium Communications in the 2nd quarter worth about $32,000. Blue Trust Inc. lifted its stake in Iridium Communications by 109.7% in the second quarter. Blue Trust Inc. now owns 1,491 shares of the technology company’s stock worth $39,000 after purchasing an additional 780 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Iridium Communications during the second quarter valued at approximately $45,000. 84.36% of the stock is currently owned by institutional investors.

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.