Iridium Communications (IRDM) Scheduled to Post Quarterly Earnings on Thursday

Iridium Communications (NASDAQ:IRDMGet Free Report) is scheduled to release its 12/31/2023 earnings data before the market opens on Thursday, February 15th. Analysts expect Iridium Communications to post earnings of $0.03 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM opened at $35.43 on Tuesday. Iridium Communications has a one year low of $33.56 and a one year high of $68.34. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.53 and a current ratio of 2.13. The company has a 50-day simple moving average of $38.42 and a 200-day simple moving average of $42.08. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -196.82 and a beta of 0.94.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. Iridium Communications’s dividend payout ratio (DPR) is -288.87%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Raymond James lowered their target price on shares of Iridium Communications from $58.00 to $53.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 10th. TheStreet downgraded shares of Iridium Communications from a “c-” rating to a “d+” rating in a research note on Tuesday, November 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Iridium Communications in a research note on Friday, November 10th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Iridium Communications presently has an average rating of “Buy” and an average price target of $61.75.

View Our Latest Analysis on IRDM

Insider Transactions at Iridium Communications

In other Iridium Communications news, CEO Matthew J. Desch acquired 28,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $37.01 per share, with a total value of $1,036,280.00. Following the completion of the transaction, the chief executive officer now directly owns 706,912 shares of the company’s stock, valued at $26,162,813.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in Iridium Communications by 15.5% during the 4th quarter. US Bancorp DE now owns 6,976 shares of the technology company’s stock worth $287,000 after acquiring an additional 934 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Iridium Communications by 11.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 105,001 shares of the technology company’s stock worth $4,776,000 after acquiring an additional 11,006 shares in the last quarter. Schroder Investment Management Group grew its holdings in Iridium Communications by 35.3% during the 3rd quarter. Schroder Investment Management Group now owns 11,666 shares of the technology company’s stock worth $532,000 after acquiring an additional 3,046 shares in the last quarter. LPL Financial LLC grew its holdings in Iridium Communications by 5.5% during the 3rd quarter. LPL Financial LLC now owns 36,093 shares of the technology company’s stock worth $1,642,000 after acquiring an additional 1,884 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Iridium Communications by 5.5% during the 2nd quarter. Osaic Holdings Inc. now owns 23,669 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 1,228 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Company Profile

(Get Free Report)

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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Earnings History for Iridium Communications (NASDAQ:IRDM)

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