What is Zacks Research’s Forecast for IRDM Q4 Earnings?

Iridium Communications Inc. (NASDAQ:IRDM) – Research analysts at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for Iridium Communications in a note issued to investors on Thursday, November 7th. Zacks Research analyst R. Department now expects that the technology company will earn $0.16 per share for the quarter, down from their prior estimate of $0.20. The consensus estimate for Iridium Communications’ current full-year earnings is $0.80 per share. Zacks Research also issued estimates for Iridium Communications’ Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.17 EPS, Q3 2025 earnings at $0.23 EPS, Q4 2025 earnings at $0.23 EPS, Q2 2026 earnings at $0.24 EPS, Q3 2026 earnings at $0.31 EPS and FY2026 earnings at $1.10 EPS.

A number of other brokerages have also recently issued reports on IRDM. BWS Financial reissued a “neutral” rating and issued a $30.00 target price on shares of Iridium Communications in a report on Monday, October 21st. Barclays lifted their price objective on Iridium Communications from $44.00 to $45.00 and gave the company an “overweight” rating 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Iridium Communications Stock Down 1.9 %

Shares of IRDM opened at $29.78 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.62 and a debt-to-equity ratio of 2.68. The company has a 50-day moving average price of $29.31 and a two-hundred day moving average price of $28.35. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 31.68 and a beta of 0.65. Iridium Communications has a 12 month low of $24.14 and a 12 month high of $41.66.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Iridium Communications had a net margin of 14.09% and a return on equity of 14.34%. The company had revenue of $212.77 million during the quarter, compared to analysts’ expectations of $205.68 million.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 1.88%. The ex-dividend date was Friday, September 13th. Iridium Communications’s dividend payout ratio is currently 59.58%.

Iridium Communications declared that its board has authorized a stock repurchase program on Thursday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 14.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Iridium Communications

In related news, Director Robert H. Niehaus sold 38,355 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.39, for a total transaction of $1,127,253.45. Following the transaction, the director now owns 254,824 shares in the company, valued at $7,489,277.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Suzanne E. Mcbride sold 4,420 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $29.48, for a total value of $130,301.60. Following the completion of the transaction, the insider now owns 182,797 shares in the company, valued at $5,388,855.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert H. Niehaus sold 38,355 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $29.39, for a total value of $1,127,253.45. Following the completion of the transaction, the director now owns 254,824 shares in the company, valued at $7,489,277.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Iridium Communications by 7,684.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,012 shares of the technology company’s stock worth $27,000 after purchasing an additional 999 shares during the last quarter. Acadian Asset Management LLC bought a new position in Iridium Communications during the first quarter worth about $29,000. Mather Group LLC. acquired a new position in shares of Iridium Communications during the 2nd quarter worth about $32,000. Blue Trust Inc. grew its position in shares of Iridium Communications by 109.7% during the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the technology company’s stock worth $39,000 after buying an additional 780 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Iridium Communications in the 2nd quarter valued at about $45,000. Institutional investors own 84.36% of the company’s stock.

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.