Iridium Communications Inc. (NASDAQ:IRDM – Get Free Report) has earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.75.
A number of research firms recently issued reports on IRDM. Cantor Fitzgerald started coverage on Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective for the company. BWS Financial reiterated a “neutral” rating and issued a $30.00 price objective on shares of Iridium Communications in a research report on Monday, October 21st.
Get Our Latest Analysis on IRDM
Insider Buying and Selling at Iridium Communications
Hedge Funds Weigh In On Iridium Communications
Several hedge funds have recently made changes to their positions in IRDM. Capital Performance Advisors LLP bought a new stake in Iridium Communications during the third quarter worth approximately $57,000. Fifth Third Bancorp boosted its stake in shares of Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Iridium Communications by 25.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,399 shares of the technology company’s stock worth $73,000 after acquiring an additional 483 shares during the last quarter. KBC Group NV raised its position in shares of Iridium Communications by 25.9% during the third quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock worth $116,000 after purchasing an additional 781 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Iridium Communications during the fourth quarter valued at $186,000. Institutional investors and hedge funds own 84.36% of the company’s stock.
Iridium Communications Stock Performance
Shares of IRDM stock opened at $30.10 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of 32.02 and a beta of 0.65. The business has a 50 day moving average of $29.39 and a two-hundred day moving average of $28.70. Iridium Communications has a 52 week low of $24.14 and a 52 week high of $37.13. 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s payout ratio is currently 59.58%.
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.
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