Iridium Communications (IRDM) to Release Earnings on Thursday

Iridium Communications (NASDAQ:IRDM) is anticipated to issue its quarterly earnings data before the market opens on Thursday, February 13th. Analysts expect the company to announce earnings of $0.15 per share and revenue of $204.10 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Iridium Communications Trading Down 1.6 %

IRDM opened at $27.97 on Tuesday. The company has a fifty day moving average of $29.23 and a 200-day moving average of $28.82. The stock has a market cap of $3.18 billion, a PE ratio of 29.76 and a beta of 0.65. 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 has a twelve month low of $24.14 and a twelve month high of $36.32.

Iridium Communications Announces Dividend

The company 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 2.00%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s dividend payout ratio (DPR) is currently 59.57%.

Insider Activity at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the sale, the director now directly owns 241,030 shares in the company, valued at $6,876,585.90. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRDM has been the subject of several analyst reports. Cantor Fitzgerald began coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price target for the company. BWS Financial reiterated a “neutral” rating and issued a $30.00 price target on shares of Iridium Communications in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.75.

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.