Brokerages Anticipate Iridium Communications Inc (NASDAQ:IRDM) Will Announce Earnings of $0.04 Per Share

Equities analysts forecast that Iridium Communications Inc (NASDAQ:IRDM) will announce earnings of $0.04 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Iridium Communications’ earnings, with estimates ranging from ($0.12) to $0.19. Iridium Communications reported earnings of $0.30 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 86.7%. The firm is expected to report its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Iridium Communications will report full-year earnings of $0.07 per share for the current financial year, with EPS estimates ranging from ($0.52) to $0.79. For the next fiscal year, analysts anticipate that the company will post earnings of $0.15 per share, with EPS estimates ranging from ($0.46) to $0.72. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Iridium Communications.

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Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.24). Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. The firm had revenue of $115.50 million for the quarter, compared to analyst estimates of $111.71 million. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 7.5% compared to the same quarter last year.

IRDM has been the subject of several analyst reports. BidaskClub downgraded shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, December 26th. Finally, ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.00.

Shares of Iridium Communications (IRDM) traded up $0.17 on Tuesday, hitting $11.57. 671,642 shares of the stock traded hands, compared to its average volume of 742,194. Iridium Communications has a 52 week low of $8.65 and a 52 week high of $13.25. The firm has a market capitalization of $1,134.34, a P/E ratio of 6.31, a price-to-earnings-growth ratio of 31.86 and a beta of 1.79. The company has a current ratio of 1.92, a quick ratio of 1.83 and a debt-to-equity ratio of 1.01.

Institutional investors have recently modified their holdings of the business. Elkfork Partners LLC bought a new stake in Iridium Communications in the fourth quarter worth about $108,000. Jane Street Group LLC acquired a new stake in Iridium Communications during the 4th quarter worth about $129,000. Trexquant Investment LP acquired a new stake in Iridium Communications during the 3rd quarter worth about $191,000. Stevens Capital Management LP acquired a new stake in Iridium Communications during the 3rd quarter worth about $232,000. Finally, Alps Advisors Inc. acquired a new stake in Iridium Communications during the 4th quarter worth about $257,000. Hedge funds and other institutional investors own 99.96% of the company’s stock.

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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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