Favorable Press Coverage Somewhat Unlikely to Impact Iridium Communications (IRDM) Share Price

News headlines about Iridium Communications (NASDAQ:IRDM) have been trending positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Iridium Communications earned a coverage optimism score of 0.28 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 45.546058041191 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Iridium Communications (NASDAQ IRDM) opened at $12.00 on Thursday. The company has a market cap of $1,210.00, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 4.07 and a beta of 1.75. Iridium Communications has a one year low of $7.80 and a one 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 announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The company had revenue of $116.55 million for the quarter, compared to analyst estimates of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. equities research analysts anticipate that Iridium Communications will post 0.83 EPS for the current fiscal year.

Several brokerages recently weighed in on IRDM. ValuEngine raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, September 27th. BidaskClub cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Wells Fargo & Co raised their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Finally, TheStreet raised shares of Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.00.

In related news, Director A B. Krongard purchased 45,750 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the purchase, the director now directly owns 149,788 shares of the company’s stock, valued at approximately $1,631,191.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Iridium Communications (NASDAQ:IRDM)

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