Iridium Communications Inc (IRDM) Stock Rating Upgraded by TheStreet

Iridium Communications Inc (NASDAQ:IRDM) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Friday.

Several other research firms have also issued reports on IRDM. Wells Fargo & Company lifted their price target on Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a research report on Friday. ValuEngine raised Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub raised Iridium Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Finally, Drexel Hamilton reissued a “buy” rating and issued a $14.00 target price on shares of Iridium Communications in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.33.

Shares of Iridium Communications (IRDM) traded down 0.206% during mid-day trading on Friday, hitting $12.125. 323,421 shares of the stock traded hands. Iridium Communications has a 1-year low of $7.50 and a 1-year high of $12.90. The company’s 50-day moving average price is $10.79 and its 200 day moving average price is $10.58. The company has a market capitalization of $1.18 billion, a PE ratio of 12.968 and a beta of 1.72.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $116.55 million during the quarter, compared to analyst estimates of $113.96 million. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. Iridium Communications’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities research analysts forecast that Iridium Communications will post $0.82 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of United States and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2017/10/31/iridium-communications-inc-irdm-stock-rating-upgraded-by-thestreet.html.

In other Iridium Communications news, COO S. Scott Smith sold 135,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $10.51, for a total value of $1,418,850.00. Following the completion of the transaction, the chief operating officer now owns 309,000 shares of the company’s stock, valued at approximately $3,247,590. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of IRDM. Flinton Capital Management LLC raised its position in Iridium Communications by 80.6% in the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after buying an additional 4,060 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in Iridium Communications in the 2nd quarter worth about $102,000. PNC Financial Services Group Inc. raised its position in Iridium Communications by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after buying an additional 1,303 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Iridium Communications in the 2nd quarter worth about $116,000. Finally, QS Investors LLC raised its position in Iridium Communications by 23,091.5% in the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after buying an additional 10,853 shares during the last quarter.

Iridium Communications Company Profile

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

What are top analysts saying about Iridium Communications Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Iridium Communications Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit