Iridium Communications (NASDAQ:IRDM) Releases Earnings Results, Beats Expectations By $0.16 EPS

Iridium Communications (NASDAQ:IRDM) posted its quarterly earnings data on Thursday. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.16, Zacks reports. Iridium Communications had a net margin of 14.09% and a return on equity of 14.34%.

Iridium Communications Stock Performance

IRDM stock traded up $0.03 during trading on Friday, reaching $32.02. 657,591 shares of the stock were exchanged, compared to its average volume of 1,080,308. Iridium Communications has a twelve month low of $24.14 and a twelve month high of $36.32. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $3.65 billion, a P/E ratio of 34.12 and a beta of 0.65. The stock has a 50 day simple moving average of $29.17 and a 200-day simple moving average of $28.83.

Iridium Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, December 16th. Iridium Communications’s payout ratio is presently 59.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BWS Financial restated a “neutral” rating and set a $30.00 price target on shares of Iridium Communications in a report on Monday, October 21st. Cantor Fitzgerald assumed coverage on Iridium Communications in a research note on Friday, January 24th. They set an “overweight” rating and a $40.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.75.

Insiders Place Their Bets

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the transaction, the director now owns 241,030 shares in the company, valued at approximately $6,876,585.90. This represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% 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.