Iridium Communications (IRDM) Earns News Sentiment Score of 0.11

Headlines about Iridium Communications (NASDAQ:IRDM) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Iridium Communications earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the technology company an impact score of 45.658708729519 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

IRDM has been the subject of a number of research analyst reports. TheStreet upgraded Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Wells Fargo & Company increased their target price on Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 27th. ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. Finally, Drexel Hamilton restated a “buy” rating and issued a $14.00 target price on shares of Iridium Communications in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Iridium Communications currently has an average rating of “Buy” and an average price target of $12.33.

Shares of Iridium Communications (NASDAQ:IRDM) opened at $12.15 on Thursday. The stock has a market capitalization of $1,205.04, a price-to-earnings ratio of 13.37, a PEG ratio of 2.95 and a beta of 1.75. Iridium Communications has a 1-year low of $7.80 and a 1-year high of $12.90. The company has a quick ratio of 2.67, a current ratio of 2.78 and a debt-to-equity ratio of 1.17.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The company 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%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 earnings per share. sell-side analysts expect that Iridium Communications will post 0.83 EPS for the current fiscal year.

In other news, Director A B. Krongard acquired 45,750 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the acquisition, the director now owns 149,788 shares in the company, valued at $1,631,191.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by company insiders.

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About Iridium Communications

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.

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