Iridium Communications (NASDAQ:IRDM) Given “Neutral” Rating at BWS Financial

BWS Financial reissued their neutral rating on shares of Iridium Communications (NASDAQ:IRDM) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $30.00 target price on the technology company’s stock.

Several other equities research analysts also recently weighed in on IRDM. William Blair downgraded Iridium Communications from an outperform rating to a market perform rating in a research report on Thursday, February 15th. Barclays cut their price target on Iridium Communications from $45.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. TheStreet raised Iridium Communications from a d+ rating to a c- rating in a research report on Thursday, February 15th. Finally, Raymond James cut their price target on Iridium Communications from $53.00 to $48.00 and set a strong-buy rating on the stock in a research report on Friday, February 16th. Three 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, the company presently has an average rating of Moderate Buy and an average price target of $44.25.

Iridium Communications Price Performance

NASDAQ IRDM opened at $28.11 on Monday. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. The stock’s fifty day moving average price is $27.51 and its 200 day moving average price is $34.68. Iridium Communications has a 1 year low of $24.14 and a 1 year high of $68.34. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 133.86 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $203.80 million for the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. As a group, equities research analysts forecast that Iridium Communications will post 0.72 earnings per share for the current year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s payout ratio is currently 247.62%.

Institutional Investors Weigh In On Iridium Communications

Hedge funds have recently modified their holdings of the company. Northwest Financial Advisors purchased a new stake in shares of Iridium Communications during the 4th quarter worth about $26,000. Allspring Global Investments Holdings LLC purchased a new position in Iridium Communications in the 4th quarter valued at about $41,000. Covestor Ltd lifted its stake in Iridium Communications by 83.2% in the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock valued at $46,000 after buying an additional 457 shares in the last quarter. Headlands Technologies LLC purchased a new position in Iridium Communications in the 4th quarter valued at about $60,000. Finally, Quarry LP lifted its stake in Iridium Communications by 691.4% in the 4th quarter. Quarry LP now owns 1,939 shares of the technology company’s stock valued at $80,000 after buying an additional 1,694 shares in the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

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.